Thrivent Financial for Lutherans lowered its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 83.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 739 shares of the financial services provider's stock after selling 3,688 shares during the quarter. Thrivent Financial for Lutherans' holdings in Texas Pacific Land were worth $817,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of TPL. Assetmark Inc. bought a new stake in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the 4th quarter valued at about $66,000. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 buying an additional 12 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in Texas Pacific Land during the 4th quarter worth approximately $87,000. Institutional investors and hedge funds own 59.94% of the company's stock.
Insider Buying and Selling
In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction 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 completion of the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 74 shares of company stock worth $98,891 in the last quarter. Insiders own 6.50% of the company's stock.
Texas Pacific Land Stock Performance
Texas Pacific Land stock traded up $74.57 during mid-day trading on Monday, reaching $1,153.57. The stock had a trading volume of 366,727 shares, compared to its average volume of 151,252. The firm has a market capitalization of $26.51 billion, a PE ratio of 58.50 and a beta of 1.44. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The stock's 50-day simple moving average is $1,334.28 and its 200-day simple moving average is $1,262.71.
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 earnings per share (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business 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. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is presently 32.45%.
Texas Pacific Land Profile
(
Free Report)
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.
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