RWA Wealth Partners LLC Raises Position in Texas Pacific Land Co. (NYSE:TPL)

RWA Wealth Partners LLC increased its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 359.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,599 shares of the financial services provider's stock after buying an additional 12,990 shares during the period. RWA Wealth Partners LLC owned 0.07% of Texas Pacific Land worth $18,358,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TPL. Assetmark Inc. purchased a new position in Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc purchased a new stake in Texas Pacific Land in the fourth quarter worth $31,000. Quest Partners LLC purchased a new position in Texas Pacific Land during the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land during the 4th quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position 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 valued at $76,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the 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 transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 69 shares of company stock worth $92,626. 6.50% of the stock is owned by company insiders.

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Texas Pacific Land Trading Down 10.3 %

TPL stock traded down $143.52 during midday trading on Thursday, hitting $1,247.91. The company's stock had a trading volume of 72,251 shares, compared to its average volume of 148,505. The company has a market cap of $28.68 billion, a PE ratio of 63.28 and a beta of 1.69. The firm's 50-day moving average is $1,345.52 and its 200-day moving average is $1,254.25. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 0.51%. Texas Pacific Land's payout ratio is currently 32.45%.

Texas Pacific Land Company 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.