Lido Advisors LLC Reduces Holdings in Texas Pacific Land Co. (NYSE:TPL)

Lido Advisors LLC lowered its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 18.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,748 shares of the financial services provider’s stock after selling 2,838 shares during the period. Lido Advisors LLC owned approximately 0.06% of Texas Pacific Land worth $14,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Caprock Group LLC lifted its holdings in Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after buying an additional 8 shares in the last quarter. Huntington National Bank raised its holdings in Texas Pacific Land by 2.8% in the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 9 shares in the last quarter. Signaturefd LLC lifted its stake in Texas Pacific Land by 11.1% in the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after buying an additional 13 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 1.3 %

TPL stock opened at $1,352.52 on Tuesday. The company’s 50 day moving average is $1,305.89 and its two-hundred day moving average is $1,297.85. The stock has a market cap of $31.09 billion, a P/E ratio of 68.59 and a beta of 1.44. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The business had revenue of $185.78 million for 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 declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 90 shares of company stock worth $117,505. 6.50% of the stock is 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.