True North Advisors LLC Sells 330 Shares of Texas Pacific Land Co. (NYSE:TPL)

True North Advisors LLC lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,069 shares of the financial services provider’s stock after selling 330 shares during the quarter. Texas Pacific Land accounts for approximately 1.1% of True North Advisors LLC’s investment portfolio, making the stock its 14th biggest position. True North Advisors LLC’s holdings in Texas Pacific Land were worth $4,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Texas Pacific Land by 21.1% during the 4th 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. Signaturefd LLC grew its position in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares in the last quarter. First Financial Bankshares Inc raised its stake in Texas Pacific Land by 2.2% during the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 16 shares in the last quarter. Finally, Peloton Wealth Strategists boosted its stake in shares of Texas Pacific Land by 1.8% in the 3rd quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock valued at $1,125,000 after purchasing an additional 23 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have acquired 80 shares of company stock worth $107,683. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,416.01 on Thursday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The stock has a market cap of $32.54 billion, a price-to-earnings ratio of 72.65 and a beta of 1.68. The company has a 50 day simple moving average of $1,326.10 and a 200 day simple moving average of $1,068.55.

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

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

Texas Pacific Land Company 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.