Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Mad River Investors

Mad River Investors cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 95,938 shares of the financial services provider’s stock after selling 1,840 shares during the period. Texas Pacific Land accounts for approximately 49.3% of Mad River Investors’ portfolio, making the stock its biggest position. Mad River Investors’ holdings in Texas Pacific Land were worth $106,103,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TPL. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land in the 3rd quarter worth $25,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $44,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the 3rd quarter worth approximately $50,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,409.30 on Tuesday. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The stock has a market capitalization of $32.39 billion, a PE ratio of 72.31 and a beta of 1.68. The company’s 50-day moving average price is $1,324.97 and its two-hundred day moving average price is $1,061.41.

Texas Pacific Land Increases Dividend

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

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 81 shares of company stock worth $108,145 over the last ninety days. Insiders own 6.50% of the company’s stock.

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.