Tobam Has $1.66 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Tobam lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 64.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,497 shares of the financial services provider’s stock after selling 2,766 shares during the period. Tobam’s holdings in Texas Pacific Land were worth $1,656,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. lifted its holdings in shares of Texas Pacific Land by 290.3% during the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 1,350 shares during the last quarter. Quantinno Capital Management LP increased its position in Texas Pacific Land by 63.5% during the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after purchasing an additional 431 shares during the last quarter. Biltmore Family Office LLC bought a new stake in Texas Pacific Land in the 3rd quarter valued at $337,000. Finally, Everence Capital Management Inc. acquired a new stake in Texas Pacific Land in the 4th quarter worth $641,000. Institutional investors own 59.94% of the company’s stock.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the company’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 sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have purchased 65 shares of company stock worth $90,745. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,333.41 on Friday. The company has a 50-day simple moving average of $1,283.60 and a 200-day simple moving average of $1,107.05. Texas Pacific Land Co. has a 52 week low of $471.06 and a 52 week high of $1,769.14. The firm has a market capitalization of $30.64 billion, a P/E ratio of 68.42 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 for the quarter. The company had revenue of $173.56 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same period in the previous year, the business posted $4.58 EPS.

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.