Tocqueville Asset Management L.P. Has $37.11 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Tocqueville Asset Management L.P. reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,550 shares of the financial services provider's stock after selling 191 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.15% of Texas Pacific Land worth $37,105,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Caprock Group LLC raised its position in shares of Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock worth $302,000 after purchasing an additional 8 shares during the period. Signaturefd LLC lifted its stake in Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after buying an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Texas Pacific Land by 21.1% in the fourth 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. Glenmede Trust Co. NA increased its position in shares of Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock worth $390,000 after acquiring an additional 13 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Texas Pacific Land by 2.1% during the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock valued at $1,041,000 after acquiring an additional 19 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Texas Pacific Land

In related news, 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 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. This trade represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of the company's 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 transaction, the chief financial officer now directly 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. Over the last three months, insiders have purchased 57 shares of company stock valued at $75,675. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded down $96.16 during midday trading on Friday, reaching $1,275.33. The stock had a trading volume of 395,101 shares, compared to its average volume of 132,295. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69. The firm's fifty day simple moving average is $1,351.26 and its two-hundred day simple moving average is $1,217.74.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The business 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 business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is 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.