Gilbert & Cook Inc. Sells 592 Shares of Texas Pacific Land Co. (NYSE:TPL)

Gilbert & Cook Inc. reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,374 shares of the financial services provider’s stock after selling 592 shares during the period. Texas Pacific Land accounts for about 0.5% of Gilbert & Cook Inc.’s holdings, making the stock its 19th biggest position. Gilbert & Cook Inc.’s holdings in Texas Pacific Land were worth $3,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TPL. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at $25,000. Compagnie Lombard Odier SCmA bought a new position in Texas Pacific Land during the third quarter valued at about $44,000. Quest Partners LLC purchased a new stake in Texas Pacific Land during the third quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 0.9 %

Shares of TPL stock opened at $1,286.24 on Thursday. The firm has a market cap of $29.56 billion, a P/E ratio of 66.06 and a beta of 1.68. The company has a 50 day moving average of $1,317.58 and a 200-day moving average of $1,087.45. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14.

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 business had revenue of $173.56 million during the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same period last year, the company posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors 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. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s payout ratio is currently 32.84%.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired 73 shares of company stock worth $100,462 over the last quarter. 6.50% of the stock is currently owned by company insiders.

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.