Collective Family Office LLC Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Collective Family Office LLC trimmed its position in Texas Pacific Land Co. (NYSE:TPL) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,385 shares of the financial services provider’s stock after selling 365 shares during the quarter. Texas Pacific Land accounts for 1.0% of Collective Family Office LLC’s holdings, making the stock its 28th largest holding. Collective Family Office LLC’s holdings in Texas Pacific Land were worth $3,744,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TPL. Magnolia Capital Advisors LLC purchased a new stake in shares of Texas Pacific Land in the 2nd quarter worth approximately $131,014,000. Geode Capital Management LLC raised its stake in Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after buying an additional 81,974 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Texas Pacific Land during the 3rd quarter valued at $45,400,000. AQR Capital Management LLC increased its holdings in shares of Texas Pacific Land by 751.4% in the 2nd quarter. AQR Capital Management LLC now owns 35,759 shares of the financial services provider’s stock valued at $26,257,000 after acquiring an additional 31,559 shares during the period. Finally, State Street Corp raised its position in shares of Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after acquiring an additional 27,884 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 92 shares of company stock valued at $118,601. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Down 0.5 %

Shares of NYSE TPL traded down $6.38 during mid-day trading on Wednesday, reaching $1,251.91. 38,572 shares of the company were exchanged, compared to its average volume of 117,715. The firm has a 50-day moving average of $1,311.18 and a 200 day moving average of $1,023.35. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of 64.23 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.51%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

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.