Partners in Financial Planning Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Partners in Financial Planning acquired a new position in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 714 shares of the financial services provider’s stock, valued at approximately $790,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land in the third quarter worth $50,000. Dynamic Technology Lab Private Ltd acquired a new stake in Texas Pacific Land during the 3rd quarter worth about $304,000. Bank of Montreal Can grew its stake in Texas Pacific Land by 2.2% during the 3rd quarter. Bank of Montreal Can now owns 6,561 shares of the financial services provider’s stock valued at $5,820,000 after acquiring an additional 142 shares in the last quarter. FMR LLC increased its holdings in shares of Texas Pacific Land by 41.5% in the 3rd quarter. FMR LLC now owns 2,525 shares of the financial services provider’s stock valued at $2,234,000 after purchasing an additional 740 shares during the period. Finally, Townsquare Capital LLC purchased a new stake in shares of Texas Pacific Land in the third quarter worth approximately $264,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 67 shares of company stock worth $89,873 in the last three months. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Performance

TPL stock opened at $1,307.86 on Monday. The stock has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69. The firm has a 50 day simple moving average of $1,348.93 and a 200 day simple moving average of $1,245.70. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14.

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

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

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.