Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,519 shares of the financial services provider's stock after selling 6,410 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Texas Pacific Land worth $19,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPL. Assetmark Inc. purchased a new position in Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $66,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Texas Pacific Land during the fourth quarter valued at $87,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Price Performance

NYSE:TPL traded up $48.99 during mid-day trading on Friday, hitting $1,235.66. The company's stock had a trading volume of 100,842 shares, compared to its average volume of 152,368. The business's fifty day moving average is $1,321.56 and its two-hundred day moving average is $1,269.00. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of 62.66 and a beta of 1.44. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year 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 EPS for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid 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 0.52%. Texas Pacific Land's payout ratio is 32.45%.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the business'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 sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 78 shares of company stock valued at $102,694 in the last three months. 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.