Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,102 shares of the financial services provider’s stock after selling 483 shares during the quarter. Corient Private Wealth LLC’s holdings in Texas Pacific Land were worth $8,960,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TPL. Assetmark Inc. bought a new position in Texas Pacific Land in the fourth quarter worth about $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. Quest Partners LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the period. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other news, 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 completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s 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 sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 57 shares of company stock valued at $75,675. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,373.63 on Friday. The firm has a market capitalization of $31.57 billion, a PE ratio of 69.66 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The business’s fifty day moving average price is $1,351.26 and its two-hundred day moving average price is $1,217.74.

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

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Texas Pacific Land 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.