Confluence Wealth Services Inc. Cuts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Confluence Wealth Services Inc. cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,480 shares of the financial services provider’s stock after selling 77 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Texas Pacific Land were worth $1,637,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Texas Pacific Land during the third quarter valued at about $25,000. Compagnie Lombard Odier SCmA bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $44,000. Quest Partners LLC bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% in the 4th 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. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Up 1.9 %

Shares of NYSE TPL opened at $1,357.85 on Wednesday. Texas Pacific Land Co. has a 1-year low of $471.06 and a 1-year high of $1,769.14. The stock has a fifty day simple moving average of $1,294.52 and a two-hundred day simple moving average of $1,103.43. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of 69.67 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. The business had revenue of $173.56 million for the quarter. During the same quarter in the prior year, the firm posted $4.58 earnings per share.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have acquired 67 shares of company stock worth $93,367. 6.50% of the stock is 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.