Commonwealth Equity Services LLC Decreases Holdings in Texas Pacific Land Co. (NYSE:TPL)

Commonwealth Equity Services LLC lowered its holdings in Texas Pacific Land Co. (NYSE:TPL) by 19.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,059 shares of the financial services provider’s stock after selling 3,603 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Texas Pacific Land were worth $16,655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TPL. KBC Group NV increased its stake in Texas Pacific Land by 41.4% in the third quarter. KBC Group NV now owns 1,455 shares of the financial services provider’s stock valued at $1,288,000 after purchasing an additional 426 shares during the last quarter. Metis Global Partners LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $219,000. CIBC Asset Management Inc grew its position in shares of Texas Pacific Land by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider’s stock valued at $705,000 after buying an additional 41 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Finally, Caprock Group LLC acquired a new stake in Texas Pacific Land during the 3rd quarter worth $234,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

NYSE TPL opened at $1,335.99 on Tuesday. The company has a fifty day moving average of $1,345.70 and a two-hundred day moving average of $1,212.14. The company has a market capitalization of $30.71 billion, a PE ratio of 67.75 and a beta of 1.69. Texas Pacific Land Co. has a 1 year low of $553.33 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 48 shares of company stock valued at $63,363 in the last ninety days. 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.