Encompass More Asset Management Sells 435 Shares of Texas Pacific Land Co. (NYSE:TPL)

Encompass More Asset Management lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,075 shares of the financial services provider’s stock after selling 435 shares during the quarter. Encompass More Asset Management’s holdings in Texas Pacific Land were worth $1,189,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. increased its stake in Texas Pacific Land by 290.3% in the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after acquiring an additional 1,350 shares during the period. Quantinno Capital Management LP grew its stake in shares of Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock valued at $2,634,000 after purchasing an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after buying an additional 431 shares in the last quarter. Biltmore Family Office LLC bought a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $337,000. Finally, Everence Capital Management Inc. acquired a new stake in Texas Pacific Land in the 4th quarter valued at $641,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In related 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 sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 77 shares of company stock valued at $104,384 in the last quarter. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Down 0.1 %

NYSE TPL opened at $1,413.71 on Friday. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The company has a 50 day moving average of $1,326.98 and a 200-day moving average of $1,070.88. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 72.11 and a beta of 1.68.

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

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 $1.60 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. Texas Pacific Land’s dividend payout ratio 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.