Hodges Capital Management Inc. Has $72.46 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Hodges Capital Management Inc. cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,514 shares of the financial services provider's stock after selling 6,876 shares during the period. Texas Pacific Land comprises approximately 4.4% of Hodges Capital Management Inc.'s investment portfolio, making the stock its biggest position. Hodges Capital Management Inc. owned 0.29% of Texas Pacific Land worth $72,455,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TPL. Caprock Group LLC raised its stake in 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 last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Texas Pacific Land by 21.1% during 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 position in shares of Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after acquiring an additional 13 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of 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 during the period. Finally, First Financial Bankshares Inc boosted its position in shares of Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 2.7 %

TPL stock traded up $35.16 during mid-day trading on Monday, reaching $1,332.33. The company's stock had a trading volume of 124,953 shares, compared to its average volume of 141,473. Texas Pacific Land Co. has a 12 month low of $471.06 and a 12 month high of $1,769.14. The business's 50 day moving average price is $1,304.42 and its 200 day moving average price is $1,095.98. The company has a market cap of $30.62 billion, a price-to-earnings ratio of 68.36 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. The business had revenue of $173.56 million for the quarter. During the same period last year, the company posted $4.58 earnings per share.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares of the company's stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 69 shares of company stock worth $96,010 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

About Texas Pacific Land

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.