Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Collective Family Office LLC

Collective Family Office LLC cut its position in Texas Pacific Land Co. (NYSE:TPL) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,385 shares of the financial services provider’s stock after selling 365 shares during the period. Texas Pacific Land makes up 1.0% of Collective Family Office LLC’s holdings, making the stock its 28th largest position. 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 institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc boosted its holdings in Texas Pacific Land by 14.4% in the second quarter. TD Asset Management Inc now owns 3,926 shares of the financial services provider’s stock valued at $2,883,000 after purchasing an additional 495 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Texas Pacific Land by 3,070.7% in the second quarter. National Bank of Canada FI now owns 2,378 shares of the financial services provider’s stock worth $1,740,000 after buying an additional 2,303 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Texas Pacific Land by 51.0% during the second quarter. Victory Capital Management Inc. now owns 14,617 shares of the financial services provider’s stock worth $10,733,000 after acquiring an additional 4,934 shares during the period. Private Advisor Group LLC raised its position in Texas Pacific Land by 4.8% during the second quarter. Private Advisor Group LLC now owns 3,630 shares of the financial services provider’s stock valued at $2,665,000 after acquiring an additional 166 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Texas Pacific Land in the second quarter valued at approximately $1,216,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.5 %

Texas Pacific Land stock traded down $6.38 during mid-day trading on Wednesday, hitting $1,251.91. The company had a trading volume of 38,572 shares, compared to its average volume of 117,715. The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 64.23 and a beta of 1.68. The company’s fifty day moving average is $1,311.18 and its 200-day moving average is $1,023.35. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14.

Texas Pacific Land Increases Dividend

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

Insider Activity 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 acquired a total of 92 shares of company stock worth $118,601 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.

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.