Commonwealth Equity Services LLC Reduces Stake in Texas Pacific Land Co. (NYSE:TPL)

Commonwealth Equity Services LLC lowered its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,059 shares of the financial services provider's stock after selling 3,603 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Texas Pacific Land worth $16,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPL. State Street Corp raised its stake in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after buying an additional 27,884 shares during the period. Geode Capital Management LLC increased its holdings in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock valued at $411,943,000 after acquiring an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $198,669,000 after purchasing an additional 43,217 shares during the period. Douglass Winthrop Advisors LLC lifted its holdings in shares of Texas Pacific Land by 3.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider's stock worth $87,764,000 after purchasing an additional 3,363 shares in the last quarter. Finally, York GP Ltd. acquired a new stake in Texas Pacific Land in the 4th quarter valued at $101,859,000. Institutional investors own 59.94% of the company's stock.

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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 transaction of $281,193.86. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The stock was 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 owns 1,393 shares in the company, valued at $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. Insiders have purchased a total of 57 shares of company stock valued at $75,675 over the last 90 days. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Down 7.0 %

TPL stock traded down $96.16 during midday trading on Friday, reaching $1,275.33. 395,097 shares of the company's stock traded hands, compared to its average volume of 140,730. The firm's fifty day moving average price is $1,351.26 and its 200-day moving average price is $1,217.74. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The company has a market cap of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69.

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

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. 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 0.50%. Texas Pacific Land's dividend payout ratio is presently 32.45%.

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.