X Square Capital LLC Sells 2,029 Shares of Texas Pacific Land Co. (NYSE:TPL)

X Square Capital LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 57.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,478 shares of the financial services provider's stock after selling 2,029 shares during the quarter. X Square Capital LLC's holdings in Texas Pacific Land were worth $1,635,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Caprock Group LLC increased its stake in shares of 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 purchasing an additional 8 shares in the last quarter. Signaturefd LLC boosted its holdings in Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after buying an additional 10 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 21.1% in 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 in the last quarter. Glenmede Trust Co. NA raised its holdings in Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock valued at $390,000 after acquiring an additional 13 shares during the period. Finally, M&T Bank Corp lifted its position 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 worth $1,041,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

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Texas Pacific Land Trading Up 0.3 %

Shares of NYSE TPL traded up $3.81 during mid-day trading on Tuesday, hitting $1,328.80. The company had a trading volume of 33,499 shares, compared to its average volume of 148,011. The stock's 50-day moving average price is $1,347.30 and its 200-day moving average price is $1,249.46. The company has a market capitalization of $30.54 billion, a price-to-earnings ratio of 68.01 and a beta of 1.69. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share 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 company also recently declared 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.

Insider Transactions at Texas Pacific Land

In related 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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The shares were 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 directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 67 shares of company stock valued at $89,873. 6.50% of the stock is currently owned by company insiders.

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.