Fiduciary Trust Co cut its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,500 shares of the financial services provider's stock after selling 570 shares during the period. Fiduciary Trust Co's holdings in Texas Pacific Land were worth $1,659,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of TPL. Bessemer Group Inc. raised its stake in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $31,000. TD Waterhouse Canada Inc. raised its stake in shares of Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 15 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in shares of Texas Pacific Land by 5,700.0% in the fourth quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 57 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Texas Pacific Land Price Performance
Shares of TPL stock traded up $0.90 during trading on Friday, reaching $1,418.00. The company's stock had a trading volume of 34,360 shares, compared to its average volume of 155,558. The company has a market capitalization of $32.60 billion, a price-to-earnings ratio of 71.91 and a beta of 1.20. The stock's 50-day moving average price is $1,301.83 and its 200 day moving average price is $1,318.60. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.02%.
Insiders Place Their Bets
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 completion of the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the business's 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 transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders bought 113 shares of company stock worth $148,385 in the last 90 days. Corporate insiders own 6.50% of the company's stock.
Texas Pacific Land Company Profile
(
Free Report)
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.
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