Avantax Advisory Services Inc. Raises Stake in Texas Pacific Land Co. (NYSE:TPL)

Avantax Advisory Services Inc. lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,258 shares of the financial services provider’s stock after buying an additional 39 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Texas Pacific Land were worth $1,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Caprock Group LLC grew its holdings in shares of Texas Pacific Land by 3.0% during the fourth quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after buying an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after buying an additional 12 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 13 shares during the period. M&T Bank Corp grew its holdings in Texas Pacific Land by 2.1% in the fourth quarter. M&T Bank Corp now owns 941 shares of the financial services provider’s stock valued at $1,041,000 after purchasing an additional 19 shares during the period. Finally, Peloton Wealth Strategists grew its holdings in Texas Pacific Land by 1.8% in the third 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 period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,342.44 on Wednesday. Texas Pacific Land Co. has a 1 year low of $553.33 and a 1 year high of $1,769.14. The firm has a 50 day moving average price of $1,347.30 and a 200 day moving average price of $1,215.48. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 68.08 and a beta of 1.69.

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

Texas Pacific Land Announces Dividend

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

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 51 shares of company stock worth $67,311. 6.50% of the stock is owned by company insiders.

Texas Pacific Land 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.