Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,059 shares of the financial services provider’s stock after selling 3,603 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Texas Pacific Land worth $16,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Erste Asset Management GmbH boosted its position in shares of Texas Pacific Land by 50.0% during the 4th quarter. Erste Asset Management GmbH now owns 570 shares of the financial services provider’s stock worth $653,000 after purchasing an additional 190 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Texas Pacific Land during the fourth quarter worth $452,000. Avantax Advisory Services Inc. grew its stake in shares of Texas Pacific Land by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,258 shares of the financial services provider’s stock valued at $1,391,000 after buying an additional 39 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $184,000. Finally, Sage Mountain Advisors LLC purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at $909,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred on Friday, March 14th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have purchased 48 shares of company stock worth $63,363. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,335.99 on Tuesday. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 67.75 and a beta of 1.69. The business has a 50-day moving average of $1,345.70 and a 200 day moving average of $1,212.14. Texas Pacific Land Co. has a 12 month low of $553.33 and a 12 month high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.