Ritholtz Wealth Management Sells 17 Shares of Texas Pacific Land Co. (NYSE:TPL)

Ritholtz Wealth Management lowered its holdings in Texas Pacific Land Co. (NYSE:TPLFree Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733 shares of the financial services provider’s stock after selling 17 shares during the quarter. Ritholtz Wealth Management’s holdings in Texas Pacific Land were worth $811,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TPL. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in 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 purchasing an additional 12 shares during the last quarter. Signaturefd LLC raised its stake in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares in the last quarter. First Financial Bankshares Inc increased its holdings in Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. Finally, Peloton Wealth Strategists raised its position in Texas Pacific Land by 1.8% in the 3rd quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock valued at $1,125,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders bought 81 shares of company stock valued at $108,145. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,409.30 on Monday. The firm has a market capitalization of $32.38 billion, a price-to-earnings ratio of 72.31 and a beta of 1.68. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14. The business’s fifty day moving average price is $1,324.75 and its two-hundred day moving average price is $1,056.75.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

About Texas Pacific Land

(Free Report)

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.

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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