Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Financial Management Professionals Inc.

Financial Management Professionals Inc. lessened its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 21.1% during the 4th quarter, Holdings Channel reports. The firm owned 404 shares of the financial services provider’s stock after selling 108 shares during the quarter. Financial Management Professionals Inc.’s holdings in Texas Pacific Land were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hilltop Holdings Inc. raised its stake in Texas Pacific Land by 290.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 1,350 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Texas Pacific Land by 63.5% in the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after purchasing an additional 431 shares during the period. Biltmore Family Office LLC acquired a new position in Texas Pacific Land in the 3rd quarter worth approximately $337,000. Finally, Everence Capital Management Inc. purchased a new position in Texas Pacific Land during the 4th quarter worth approximately $641,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 84 shares of company stock valued at $111,354 in the last quarter. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Price Performance

TPL stock opened at $1,409.30 on Friday. The firm’s fifty day simple moving average is $1,324.75 and its 200-day simple moving average is $1,054.60. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The company has a market capitalization of $32.39 billion, a P/E ratio of 72.31 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

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.