Texas Pacific Land Co. (NYSE:TPL) Holdings Lowered by Pecaut & CO.

Pecaut & CO. lessened its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,105 shares of the financial services provider's stock after selling 1,438 shares during the period. Texas Pacific Land accounts for approximately 5.4% of Pecaut & CO.'s portfolio, making the stock its 4th largest position. Pecaut & CO. owned approximately 0.06% of Texas Pacific Land worth $15,599,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPL. CIBC Asset Management Inc grew its position in shares of Texas Pacific Land by 5.4% during the third quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider's stock worth $705,000 after acquiring an additional 41 shares during the last quarter. Quest Partners LLC purchased a new position in Texas Pacific Land during the 3rd quarter worth $50,000. Caprock Group LLC purchased a new position in Texas Pacific Land during the 3rd quarter worth $234,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $395,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Texas Pacific Land by 102.6% in the third quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider's stock valued at $9,124,000 after buying an additional 5,223 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 5.2 %

Shares of NYSE TPL traded up $66.63 during midday trading on Monday, reaching $1,339.78. 49,900 shares of the company were exchanged, compared to its average volume of 140,852. The stock has a market cap of $30.79 billion, a P/E ratio of 67.94 and a beta of 1.69. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The stock has a fifty day simple moving average of $1,350.80 and a 200 day simple moving average of $1,226.35.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land's payout ratio is currently 32.45%.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 56 shares of company stock worth $74,564. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.