First Dallas Securities Inc. Cuts Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

First Dallas Securities Inc. lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,434 shares of the financial services provider’s stock after selling 894 shares during the period. Texas Pacific Land accounts for about 11.5% of First Dallas Securities Inc.’s portfolio, making the stock its largest position. First Dallas Securities Inc. owned 0.11% of Texas Pacific Land worth $28,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in TPL. State Street Corp increased its stake in shares of Texas Pacific Land by 3.8% during the third 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 during the period. Geode Capital Management LLC increased its position 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. raised its position in shares of 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 worth $120,694,000 after acquiring an additional 1,984 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its stake in shares of 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 worth $87,764,000 after purchasing an additional 3,363 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Texas Pacific Land by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,836 shares of the financial services provider’s stock valued at $62,671,000 after purchasing an additional 6,598 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 2.7 %

Shares of TPL stock opened at $1,332.33 on Tuesday. The company has a market cap of $30.62 billion, a PE ratio of 68.36 and a beta of 1.68. Texas Pacific Land Co. has a 12-month low of $471.06 and a 12-month high of $1,769.14. The business’s fifty day simple moving average is $1,298.81 and its 200-day simple moving average is $1,099.61.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. The firm had revenue of $173.56 million for the quarter. During the same period last year, the firm earned $4.58 earnings per share.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 69 shares of company stock valued at $96,010 in the last 90 days. 6.50% of the stock is currently owned by company insiders.

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.