Blue Trust Inc. Lowers Position in Texas Pacific Land Co. (NYSE:TPL)

Blue Trust Inc. cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,158 shares of the financial services provider’s stock after selling 18 shares during the quarter. Blue Trust Inc. owned about 0.08% of Texas Pacific Land worth $21,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. raised its position in Texas Pacific Land by 14.2% in the 2nd quarter. Sei Investments Co. now owns 901 shares of the financial services provider’s stock valued at $662,000 after purchasing an additional 112 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of Texas Pacific Land during the 2nd quarter worth about $3,303,000. ProShare Advisors LLC purchased a new position in Texas Pacific Land during the 2nd quarter worth approximately $645,000. Public Sector Pension Investment Board grew its stake in Texas Pacific Land by 1.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,697 shares of the financial services provider’s stock worth $1,980,000 after buying an additional 51 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Texas Pacific Land by 21.6% during the 2nd quarter. Bank of Montreal Can now owns 6,419 shares of the financial services provider’s stock worth $4,871,000 after buying an additional 1,141 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired 75 shares of company stock valued at $102,582 in the last three months. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Down 3.0 %

NYSE:TPL opened at $1,363.14 on Monday. The stock’s 50 day moving average price is $1,327.04 and its 200 day moving average price is $1,079.54. The company has a market capitalization of $31.33 billion, a PE ratio of 69.94 and a beta of 1.68. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14.

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

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $1.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

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.