Tocqueville Asset Management L.P. Decreases Position in Texas Pacific Land Co. (NYSE:TPL)

Tocqueville Asset Management L.P. cut its holdings in Texas Pacific Land Co. (NYSE:TPL) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,550 shares of the financial services provider’s stock after selling 191 shares during the period. Tocqueville Asset Management L.P.’s holdings in Texas Pacific Land were worth $37,105,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TPL. Assetmark Inc. purchased a new position in shares of Texas Pacific Land in the fourth quarter worth $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at about $31,000. Quest Partners LLC bought a new position in shares of Texas Pacific Land during the third quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land during the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 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 in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 48 shares of company stock worth $63,363 over the last 90 days. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,335.99 on Tuesday. Texas Pacific Land Co. has a 1 year low of $553.33 and a 1 year high of $1,769.14. The stock’s 50-day moving average is $1,345.70 and its 200 day moving average is $1,212.14. The company has a market cap of $30.71 billion, a PE ratio of 67.75 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

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.