Grimes & Company Inc. Sells 49 Shares of Texas Pacific Land Co. (NYSE:TPL)

Grimes & Company Inc. lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,396 shares of the financial services provider’s stock after selling 49 shares during the quarter. Grimes & Company Inc.’s holdings in Texas Pacific Land were worth $4,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC lifted its position in Texas Pacific Land by 7.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 1,914 shares of the financial services provider’s stock worth $2,117,000 after buying an additional 132 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the 4th quarter valued at about $66,000. Exchange Traded Concepts LLC increased its stake in shares of Texas Pacific Land by 130.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 870 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 492 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $332,000. Finally, Yeomans Consulting Group Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $302,000. Institutional investors own 59.94% of the company’s stock.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the business’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 completion of the sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders acquired 78 shares of company stock valued at $105,810. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,363.14 on Friday. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 69.94 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. The business has a 50 day simple moving average of $1,327.04 and a 200 day simple moving average of $1,075.14.

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

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s payout ratio is 32.84%.

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.