Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC lowered its stake in Texas Pacific Land Co. (NYSE:TPL) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,691 shares of the financial services provider’s stock after selling 273 shares during the period. Texas Pacific Land makes up approximately 1.0% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 24th biggest holding. Hunter Associates Investment Management LLC’s holdings in Texas Pacific Land were worth $6,294,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land during the 3rd quarter worth approximately $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $44,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land in the fourth quarter worth $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 71 shares of company stock worth $98,215 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,291.16 on Friday. The company’s fifty day moving average is $1,313.18 and its two-hundred day moving average is $1,088.87. The firm has a market capitalization of $29.67 billion, a P/E ratio of 66.25 and a beta of 1.68. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14.

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

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is 32.84%.

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.