Lionsbridge Wealth Management LLC Sells 67 Shares of Texas Pacific Land Co. (NYSE:TPL)

Lionsbridge Wealth Management LLC lowered its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 625 shares of the financial services provider’s stock after selling 67 shares during the period. Lionsbridge Wealth Management LLC’s holdings in Texas Pacific Land were worth $691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. State Street Corp grew its holdings in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after buying an additional 27,884 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in Texas Pacific Land during the second quarter valued at $131,014,000. Charles Schwab Investment Management Inc. increased its holdings in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock valued at $120,694,000 after acquiring an additional 1,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after purchasing an additional 9,878 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This represents a 26.45 % 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. Insiders have bought a total of 81 shares of company stock valued at $108,145 in the last quarter. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Up 1.2 %

TPL opened at $1,409.30 on Monday. The company has a market capitalization of $32.39 billion, a PE ratio of 72.31 and a beta of 1.68. The firm has a 50-day simple moving average of $1,324.75 and a two-hundred day simple moving average of $1,056.75. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14.

Texas Pacific Land Increases Dividend

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

About Texas Pacific Land

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.