Pecaut & CO. Sells 1,438 Shares of Texas Pacific Land Co. (NYSE:TPL)

Pecaut & CO. decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,105 shares of the financial services provider’s stock after selling 1,438 shares during the period. Texas Pacific Land accounts for about 5.4% of Pecaut & CO.’s holdings, making the stock its 4th largest position. Pecaut & CO. owned about 0.06% of Texas Pacific Land worth $15,599,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in Texas Pacific Land by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider’s stock valued at $705,000 after buying an additional 41 shares during the last quarter. Quest Partners LLC acquired a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $50,000. Caprock Group LLC acquired a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $234,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $395,000. Finally, Pacer Advisors Inc. grew its holdings in Texas Pacific Land by 102.6% in the 3rd quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider’s stock valued at $9,124,000 after buying an additional 5,223 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 transaction of $281,193.86. Following the sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 57 shares of company stock valued at $75,675. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Down 0.8 %

TPL opened at $1,373.63 on Friday. The firm has a market capitalization of $31.57 billion, a P/E ratio of 69.66 and a beta of 1.69. The stock’s 50 day moving average price is $1,351.26 and its two-hundred day moving average price is $1,217.74. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is presently 32.45%.

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.