Litman Gregory Wealth Management LLC Lowers Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Litman Gregory Wealth Management LLC lessened its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,933 shares of the financial services provider’s stock after selling 37 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Texas Pacific Land were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hilltop Holdings Inc. increased its position in shares of Texas Pacific Land by 290.3% in the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 1,350 shares during the last quarter. Quantinno Capital Management LP grew its stake in Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after buying an additional 431 shares during the last quarter. Biltmore Family Office LLC bought a new position in shares of Texas Pacific Land in the 3rd quarter worth $337,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $641,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,297.07 on Friday. The firm has a market capitalization of $29.81 billion, a PE ratio of 66.55 and a beta of 1.68. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14. The firm has a fifty day moving average of $1,304.42 and a 200 day moving average of $1,092.16.

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

Texas Pacific Land Increases Dividend

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

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have acquired 71 shares of company stock valued at $98,215. 6.50% of the stock is currently 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.