LPL Financial LLC Has $14.93 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

LPL Financial LLC lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,501 shares of the financial services provider’s stock after purchasing an additional 1,431 shares during the quarter. LPL Financial LLC’s holdings in Texas Pacific Land were worth $14,931,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TPL. York GP Ltd. acquired a new position in Texas Pacific Land during the fourth quarter worth $101,859,000. Geode Capital Management LLC increased its position in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after acquiring an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Texas Pacific Land by 31.7% in the 4th 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Texas Pacific Land in the 4th quarter worth about $41,303,000. Finally, Proficio Capital Partners LLC acquired a new position in Texas Pacific Land during the 4th quarter valued at about $31,802,000. 59.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 70 shares of company stock valued at $93,775 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Up 1.9 %

Shares of Texas Pacific Land stock opened at $1,350.08 on Wednesday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The business has a 50 day moving average price of $1,346.02 and a 200-day moving average price of $1,253.28. The company has a market cap of $31.03 billion, a PE ratio of 68.46 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is 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.