Wells Fargo & Company MN Reduces Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Wells Fargo & Company MN lowered its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,489 shares of the financial services provider's stock after selling 7,373 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Texas Pacific Land worth $35,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Caprock Group LLC increased its position in Texas Pacific Land by 3.0% in the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock worth $302,000 after buying an additional 8 shares in the last quarter. Huntington National Bank boosted its position in shares of Texas Pacific Land by 2.8% in the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock worth $368,000 after purchasing an additional 9 shares during the period. Signaturefd LLC increased its stake in shares of Texas Pacific Land by 11.1% in the fourth 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 stake 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 purchasing an additional 12 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Texas Pacific Land by 2.1% during 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 during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

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Texas Pacific Land Trading Up 1.6 %

Texas Pacific Land stock traded up $20.57 during mid-day trading on Wednesday, hitting $1,284.84. The stock had a trading volume of 18,464 shares, compared to its average volume of 135,249. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The firm has a market capitalization of $29.53 billion, a P/E ratio of 65.13 and a beta of 1.44. The firm's 50 day moving average is $1,317.16 and its 200 day moving average is $1,274.19.

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

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date 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 32.45%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the vice president now directly 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. Over the last ninety days, insiders purchased 82 shares of company stock valued at $107,353. Corporate insiders own 6.50% of the company's stock.

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.