X Square Capital LLC Has $1.64 Million Position in Texas Pacific Land Co. (NYSE:TPL)

X Square Capital LLC cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 57.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,478 shares of the financial services provider’s stock after selling 2,029 shares during the quarter. X Square Capital LLC’s holdings in Texas Pacific Land were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock worth $2,599,426,000 after purchasing an additional 260,278 shares during the last quarter. York GP Ltd. bought a new position in Texas Pacific Land during the fourth quarter valued at approximately $101,859,000. Geode Capital Management LLC lifted its stake in Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock worth $198,669,000 after acquiring an additional 43,217 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter valued at $41,303,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was 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. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 value 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. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 65 shares of company stock worth $86,911 in the last ninety days. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,332.75 on Friday. The business’s 50-day simple moving average is $1,350.96 and its 200-day simple moving average is $1,235.78. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The firm has a market cap of $30.63 billion, a price-to-earnings ratio of 67.58 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. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

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.