Tidal Investments LLC Lowers Stake in Texas Pacific Land Co. (NYSE:TPL)

Tidal Investments LLC cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 24.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,025 shares of the financial services provider’s stock after selling 1,294 shares during the period. Tidal Investments LLC’s holdings in Texas Pacific Land were worth $4,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC grew its holdings in Texas Pacific Land by 6.1% in the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider’s stock valued at $17,600,000 after purchasing an additional 1,152 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Texas Pacific Land by 26.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 474 shares of the financial services provider’s stock valued at $524,000 after buying an additional 100 shares in the last quarter. HB Wealth Management LLC grew its stake in Texas Pacific Land by 7.1% in the 4th quarter. HB Wealth Management LLC now owns 1,153 shares of the financial services provider’s stock valued at $1,276,000 after acquiring an additional 76 shares during the period. UMB Bank n.a. increased its holdings in Texas Pacific Land by 2,839.8% in the 4th quarter. UMB Bank n.a. now owns 2,881 shares of the financial services provider’s stock worth $3,186,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Texas Pacific Land in the 4th quarter worth $341,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Activity

In other Texas Pacific Land 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 transaction of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 132 shares of company stock worth $175,331 over the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Down 3.4%

TPL opened at $1,371.96 on Wednesday. The firm’s fifty day simple moving average is $1,307.61 and its two-hundred day simple moving average is $1,325.11. Texas Pacific Land Co. has a 52-week low of $578.56 and a 52-week high of $1,769.14. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 69.57 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.02%.

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.