Gilbert & Cook Inc. Trims Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Gilbert & Cook Inc. cut its position in Texas Pacific Land Co. (NYSE:TPL) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,374 shares of the financial services provider’s stock after selling 592 shares during the quarter. Texas Pacific Land comprises 0.5% of Gilbert & Cook Inc.’s investment portfolio, making the stock its 19th biggest position. Gilbert & Cook Inc.’s holdings in Texas Pacific Land were worth $3,732,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. raised its stake in Texas Pacific Land by 290.3% in the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 1,350 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after buying an additional 431 shares in the last quarter. Biltmore Family Office LLC bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth $337,000. Finally, Everence Capital Management Inc. purchased a new position in Texas Pacific Land in the fourth quarter worth $641,000. 59.94% of the stock is owned by institutional investors.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated 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 directly owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 73 shares of company stock valued at $100,462. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 0.9 %

NYSE TPL opened at $1,286.24 on Thursday. The stock’s 50-day simple moving average is $1,317.58 and its two-hundred day simple moving average is $1,087.45. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 66.06 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data 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 period in the prior year, the business posted $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $1.60 dividend. 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio is 32.84%.

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.