North Point Portfolio Managers Corp OH Has $13.65 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

North Point Portfolio Managers Corp OH cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,343 shares of the financial services provider’s stock after selling 3,987 shares during the quarter. Texas Pacific Land comprises 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’s holdings in Texas Pacific Land were worth $13,651,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. increased 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 worth $76,000 after acquiring an additional 12 shares during the period. Signaturefd LLC grew its position in Texas Pacific Land by 16.9% in 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 during the last quarter. Glenmede Trust Co. NA increased 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 worth $390,000 after purchasing an additional 13 shares during the period. First Financial Bankshares Inc raised its position in shares of 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 valued at $667,000 after buying an additional 16 shares during the last quarter. Finally, Peloton Wealth Strategists lifted its stake in shares of 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 valued at $1,125,000 after buying an additional 23 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Down 3.0 %

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

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

Texas Pacific Land Increases Dividend

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

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated 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 owns 584 shares of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders acquired 75 shares of company stock valued at $102,582. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land 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.