EAM Investors LLC Decreases Holdings in Texas Pacific Land Co. (NYSE:TPL)

EAM Investors LLC lowered its position in Texas Pacific Land Co. (NYSE:TPL) by 58.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,904 shares of the financial services provider’s stock after selling 2,734 shares during the period. EAM Investors LLC’s holdings in Texas Pacific Land were worth $2,106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at $1,394,000. Gamco Investors INC. ET AL boosted its position in Texas Pacific Land by 15.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 6,293 shares of the financial services provider’s stock valued at $6,960,000 after buying an additional 838 shares during the period. Jump Financial LLC purchased a new stake in Texas Pacific Land during the fourth quarter valued at about $247,000. Guggenheim Capital LLC grew its stake in shares of Texas Pacific Land by 178.4% during the fourth quarter. Guggenheim Capital LLC now owns 1,498 shares of the financial services provider’s stock valued at $1,657,000 after buying an additional 960 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Texas Pacific Land in the fourth quarter worth about $166,000. 59.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 82 shares of company stock valued at $107,353 in the last quarter. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,277.41 on Thursday. The business has a 50-day moving average of $1,315.82 and a 200 day moving average of $1,274.21. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The stock has a market capitalization of $29.36 billion, a PE ratio of 64.78 and a beta of 1.44.

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

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.50%. Texas Pacific Land’s payout ratio 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.