Encompass More Asset Management Has $1.19 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Encompass More Asset Management cut its position in Texas Pacific Land Co. (NYSE:TPL) by 28.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,075 shares of the financial services provider’s stock after selling 435 shares during the period. Encompass More Asset Management’s holdings in Texas Pacific Land were worth $1,189,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TPL. Capital Performance Advisors LLP bought a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $25,000. Compagnie Lombard Odier SCmA bought a new position in Texas Pacific Land during the third quarter worth $44,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land in the third quarter valued at $50,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Texas Pacific Land by 21.1% in the fourth 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 during the period. Finally, Signaturefd LLC lifted its stake in shares of Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 13 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,413.71 on Friday. The firm’s 50-day simple moving average is $1,326.98 and its 200 day simple moving average is $1,070.88. The firm has a market cap of $32.48 billion, a P/E ratio of 72.11 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.

Texas Pacific Land (NYSE:TPL) last announced its earnings results 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 quarter last year, the business posted $4.58 EPS.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 77 shares of company stock valued at $104,384. 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.