Kingswood Wealth Advisors LLC Sells 433 Shares of Texas Pacific Land Co. (NYSE:TPL)

Kingswood Wealth Advisors LLC lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 10.3% in the fourth quarter, HoldingsChannel reports. The fund owned 3,788 shares of the financial services provider’s stock after selling 433 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Texas Pacific Land were worth $4,189,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TPL. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at approximately $25,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land during the third quarter worth $44,000. Quest Partners LLC bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Texas Pacific Land by 21.1% in 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 currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,363.14 on Monday. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14. The company has a market capitalization of $31.33 billion, a PE ratio of 69.94 and a beta of 1.68. The company has a fifty day moving average of $1,327.04 and a 200-day moving average of $1,079.54.

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

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid 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 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is 32.84%.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction 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. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 75 shares of company stock valued at $102,582 over the last ninety days. 6.50% of the stock is owned by company insiders.

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.