Xponance Inc. Decreases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Xponance Inc. lowered its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,894 shares of the financial services provider's stock after selling 395 shares during the period. Xponance Inc.'s holdings in Texas Pacific Land were worth $5,413,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at about $31,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 7.0 %

Shares of NYSE:TPL traded down $96.16 during trading on Friday, reaching $1,275.33. 395,101 shares of the company's stock traded hands, compared to its average volume of 141,206. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The firm has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. The company has a 50-day simple moving average of $1,350.80 and a 200-day simple moving average of $1,226.35.

Remove Ads

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 return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The firm also recently announced 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction dated 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 directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 57 shares of company stock worth $75,675 in the last ninety days. Company insiders own 6.50% of the company's stock.

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.