Atria Investments Inc Reduces Stake in Texas Pacific Land Co. (NYSE:TPL)

Atria Investments Inc cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 66.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 258 shares of the financial services provider’s stock after selling 517 shares during the quarter. Atria Investments Inc’s holdings in Texas Pacific Land were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in Texas Pacific Land during the fourth quarter valued at $29,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land during the 4th quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at about $87,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the 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 transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Chris Steddum sold 214 shares of the company’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 owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 48 shares of company stock worth $63,363. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Up 1.1 %

Shares of TPL stock opened at $1,335.99 on Tuesday. Texas Pacific Land Co. has a 12-month low of $553.33 and a 12-month high of $1,769.14. The business’s 50 day moving average is $1,345.70 and its two-hundred day moving average is $1,212.14. The company has a market capitalization of $30.71 billion, a P/E ratio of 67.75 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 earnings per share (EPS) for the quarter. The company 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.