Harvest Fund Management Co. Ltd Has $133,000 Holdings in Texas Pacific Land Co. (NYSE:TPL)

Harvest Fund Management Co. Ltd cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 76.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120 shares of the financial services provider’s stock after selling 397 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Texas Pacific Land were worth $133,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. acquired a new position in shares of Texas Pacific Land in the 4th quarter worth approximately $29,000. Atala Financial Inc acquired a new stake in Texas Pacific Land during the 4th quarter valued at $31,000. Quest Partners LLC acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The stock was 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 directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now directly 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. In the last ninety days, insiders bought 57 shares of company stock valued at $75,675. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,275.33 on Friday. The business has a fifty day moving average price of $1,350.80 and a 200 day moving average price of $1,223.39. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69.

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

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 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.