Tidal Investments LLC Reduces Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Tidal Investments LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 24.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,025 shares of the financial services provider’s stock after selling 1,294 shares during the quarter. Tidal Investments LLC’s holdings in Texas Pacific Land were worth $4,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TPL. Bessemer Group Inc. increased its stake in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $31,000. TD Waterhouse Canada Inc. increased its position in Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in Texas Pacific Land by 5,700.0% during the fourth quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 132 shares of company stock valued at $175,331 in the last quarter. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,371.96 on Wednesday. The company’s 50-day moving average is $1,307.61 and its two-hundred day moving average is $1,325.11. Texas Pacific Land Co. has a 1-year low of $578.56 and a 1-year high of $1,769.14. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of 69.57 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The firm had revenue of $195.98 million for the quarter, compared to analysts’ expectations of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio is currently 32.02%.

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.