Texas Pacific Land Co. (NYSE:TPL) Stake Cut by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 24.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,343 shares of the financial services provider’s stock after selling 3,987 shares during the quarter. Texas Pacific Land makes up 2.4% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 15th largest holding. North Point Portfolio Managers Corp OH owned 0.05% of Texas Pacific Land worth $13,651,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. boosted its position in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the last quarter. Signaturefd LLC raised its stake in shares of Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of 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 buying an additional 13 shares during the last quarter. First Financial Bankshares Inc grew its stake in shares of Texas Pacific Land by 2.2% in the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after buying an additional 16 shares in the last quarter. Finally, Peloton Wealth Strategists increased its holdings in Texas Pacific Land by 1.8% in the third quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock worth $1,125,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,363.14 on Monday. The firm has a market cap of $31.33 billion, a PE ratio of 69.94 and a beta of 1.68. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The firm’s 50 day moving average price is $1,327.04 and its 200 day moving average price is $1,079.54.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. During the same quarter in the prior year, the business posted $4.58 EPS.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is 32.84%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 75 shares of company stock valued at $102,582. Insiders own 6.50% of the company’s stock.

About Texas Pacific Land

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.