Family Management Corp Reduces Holdings in Texas Pacific Land Co. (NYSE:TPL)

Family Management Corp reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 20.6% in the 4th quarter, Holdings Channel reports. The firm owned 6,169 shares of the financial services provider’s stock after selling 1,599 shares during the period. Texas Pacific Land makes up 1.1% of Family Management Corp’s holdings, making the stock its 22nd biggest holding. Family Management Corp’s holdings in Texas Pacific Land were worth $6,823,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TPL. Vanguard Group Inc. grew its position in Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock worth $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock worth $693,023,000 after purchasing an additional 159,597 shares during the period. Invesco Ltd. grew its position in Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock valued at $331,321,000 after buying an additional 200,841 shares during the last quarter. Northern Trust Corp increased its stake in Texas Pacific Land by 21.8% in the 4th quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider’s stock valued at $248,584,000 after buying an additional 40,185 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Texas Pacific Land by 31.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after buying an additional 43,217 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated 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 sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have acquired 98 shares of company stock valued at $128,084. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 0.4 %

Shares of NYSE:TPL opened at $1,340.09 on Thursday. Texas Pacific Land Co. has a fifty-two week low of $562.04 and a fifty-two week high of $1,769.14. The company has a market cap of $30.80 billion, a price-to-earnings ratio of 67.96 and a beta of 1.20. The firm’s 50-day simple moving average is $1,301.29 and its 200-day simple moving average is $1,307.57.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Texas Pacific Land Company 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.