Bar Harbor Wealth Management Reduces Position in Texas Pacific Land Co. (NYSE:TPL)

Bar Harbor Wealth Management trimmed its holdings in Texas Pacific Land Co. (NYSE:TPL) by 18.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,792 shares of the financial services provider’s stock after selling 4,043 shares during the period. Texas Pacific Land comprises approximately 1.3% of Bar Harbor Wealth Management’s portfolio, making the stock its 18th largest holding. Bar Harbor Wealth Management’s holdings in Texas Pacific Land were worth $19,677,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land in the third quarter worth $25,000. Compagnie Lombard Odier SCmA bought a new position in shares of Texas Pacific Land in the third quarter worth about $44,000. Quest Partners LLC purchased a new position in Texas Pacific Land in the 3rd quarter worth about $50,000. Signaturefd LLC lifted its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Texas Pacific Land by 880.0% in the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock valued at $87,000 after buying an additional 88 shares during the period. 59.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 88 shares of company stock valued at $114,971 in the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded down $7.37 during trading on Monday, reaching $1,293.56. 119,509 shares of the company were exchanged, compared to its average volume of 142,647. The business’s fifty day simple moving average is $1,318.51 and its 200-day simple moving average is $1,034.73. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The firm has a market capitalization of $29.72 billion, a PE ratio of 66.37 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

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.