Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Tobam

Tobam cut its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 64.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,497 shares of the financial services provider's stock after selling 2,766 shares during the quarter. Tobam's holdings in Texas Pacific Land were worth $1,656,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Caprock Group LLC boosted its stake in shares of Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock worth $302,000 after buying an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after acquiring an additional 12 shares during the period. Signaturefd LLC raised its holdings in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after purchasing an additional 13 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock valued at $390,000 after purchasing an additional 13 shares in the last quarter. Finally, First Financial Bankshares Inc lifted its holdings in shares of Texas Pacific Land by 2.2% in the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after buying an additional 16 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 0.6 %

Shares of Texas Pacific Land stock traded down $8.85 during trading on Tuesday, reaching $1,372.34. The company's stock had a trading volume of 27,365 shares, compared to its average volume of 127,180. The business has a 50 day moving average price of $1,276.13 and a 200-day moving average price of $1,119.22. The company has a market capitalization of $31.54 billion, a P/E ratio of 70.37 and a beta of 1.68. Texas Pacific Land Co. has a 12-month low of $471.06 and a 12-month high of $1,769.14.

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.