Harvest Fund Management Co. Ltd Has $133,000 Stake in Texas Pacific Land Co. (NYSE:TPL)

Harvest Fund Management Co. Ltd decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 76.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 120 shares of the financial services provider’s stock after selling 397 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Texas Pacific Land were worth $133,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake 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 purchasing an additional 27,884 shares during the period. Geode Capital Management LLC boosted its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $198,669,000 after purchasing an additional 43,217 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in Texas Pacific Land by 3.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock valued at $87,764,000 after purchasing an additional 3,363 shares during the period. Finally, York GP Ltd. bought a new stake in Texas Pacific Land during the 4th quarter valued at approximately $101,859,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 7.0 %

Shares of NYSE:TPL opened at $1,275.33 on Friday. The business has a 50 day moving average price of $1,350.80 and a 200 day moving average price of $1,223.39. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The company has a market cap of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insiders Place Their Bets

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the firm’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 completion of the sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 57 shares of company stock worth $75,675. 6.50% of the stock is currently 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.