Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lowered its holdings in Texas Pacific Land Co. (NYSE:TPL) by 32.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,355 shares of the financial services provider’s stock after selling 641 shares during the quarter. Cynosure Group LLC’s holdings in Texas Pacific Land were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. purchased a new position in Texas Pacific Land during the fourth quarter valued at approximately $29,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Texas Pacific Land in the fourth quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in 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 in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Texas Pacific Land in the 4th quarter valued at $87,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 1.9 %

Shares of Texas Pacific Land stock opened at $1,350.08 on Wednesday. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The firm’s 50-day moving average price is $1,346.02 and its 200 day moving average price is $1,253.28. The firm has a market capitalization of $31.03 billion, a PE ratio of 68.46 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s payout ratio is 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The shares were 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 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 a total of 70 shares of company stock worth $93,775 in the last ninety days. Insiders own 6.50% of the company’s stock.

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.