Vest Financial LLC Lowers Stake in Texas Pacific Land Co. (NYSE:TPL)

Vest Financial LLC cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 17.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,809 shares of the financial services provider’s stock after selling 377 shares during the quarter. Vest Financial LLC’s holdings in Texas Pacific Land were worth $2,397,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TPL. Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 13.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 9 shares during the last quarter. Spring Capital Management LLC bought a new stake in shares of Texas Pacific Land in the 1st quarter valued at about $5,008,000. NBC Securities Inc. purchased a new position in shares of Texas Pacific Land in the 1st quarter worth approximately $920,000. Gunderson Capital Management Inc. bought a new position in shares of Texas Pacific Land during the 1st quarter worth approximately $8,514,000. Finally, Czech National Bank raised its stake in shares of Texas Pacific Land by 5.9% during the 1st quarter. Czech National Bank now owns 4,327 shares of the financial services provider’s stock worth $5,733,000 after acquiring an additional 242 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 176 shares of company stock worth $227,923. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 2.2%

Shares of TPL opened at $1,117.13 on Friday. The company has a 50 day moving average of $1,269.74 and a two-hundred day moving average of $1,310.32. Texas Pacific Land Co. has a twelve month low of $614.56 and a twelve month high of $1,769.14. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 56.65 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio is presently 32.02%.

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.