Cerity Partners LLC Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Cerity Partners LLC reduced its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,126 shares of the financial services provider's stock after selling 244 shares during the quarter. Cerity Partners LLC's holdings in Texas Pacific Land were worth $11,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Caprock Group LLC boosted its position in Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after buying an additional 8 shares during the period. Huntington National Bank boosted its holdings in Texas Pacific Land by 2.8% in the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 9 shares during the period. Signaturefd LLC grew its stake in Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased 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 purchasing an additional 12 shares during the period. Finally, M&T Bank Corp raised its position in Texas Pacific Land by 2.1% in the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock valued at $1,041,000 after purchasing an additional 19 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction dated 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 sale, the vice president now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 82 shares of company stock worth $107,353 over the last ninety days. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL traded up $20.82 during midday trading on Wednesday, hitting $1,285.09. The company had a trading volume of 23,482 shares, compared to its average volume of 135,290. The company's 50-day simple moving average is $1,317.16 and its 200-day simple moving average is $1,274.19. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The firm has a market capitalization of $29.54 billion, a P/E ratio of 65.17 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 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.