Skba Capital Management LLC Sells 312 Shares of Texas Pacific Land Co. (NYSE:TPL)

Skba Capital Management LLC cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,131 shares of the financial services provider's stock after selling 312 shares during the period. Skba Capital Management LLC's holdings in Texas Pacific Land were worth $1,251,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TPL. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after buying an additional 260,278 shares during the period. York GP Ltd. purchased a new stake in Texas Pacific Land in the fourth quarter worth $101,859,000. Geode Capital Management LLC grew its position in shares of Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after buying an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after purchasing an additional 43,217 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $41,303,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded down $165.95 during midday trading on Thursday, hitting $1,225.48. The company had a trading volume of 118,006 shares, compared to its average volume of 148,692. The company has a 50 day moving average of $1,345.52 and a 200 day moving average of $1,254.25. The stock has a market capitalization of $28.17 billion, a P/E ratio of 62.43 and a beta of 1.69. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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 net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is currently 32.45%.

Insider Activity

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 69 shares of company stock valued at $92,626 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

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.