Partners in Financial Planning Acquires New Holdings in Texas Pacific Land Co. (NYSE:TPL)

Partners in Financial Planning bought a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 714 shares of the financial services provider’s stock, valued at approximately $790,000.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. acquired a new position in shares of Texas Pacific Land during the fourth quarter worth approximately $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the 4th quarter worth $31,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land during the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in 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 worth $76,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 1.8 %

Texas Pacific Land stock opened at $1,307.86 on Monday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The stock has a market cap of $30.06 billion, a price-to-earnings ratio of 66.32 and a beta of 1.69. The company’s 50-day moving average price is $1,348.93 and its two-hundred day moving average price is $1,245.70.

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

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 $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders bought 67 shares of company stock valued at $89,873 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

About Texas Pacific Land

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.