Grimes & Company Inc. Has $4.86 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Grimes & Company Inc. decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,396 shares of the financial services provider’s stock after selling 49 shares during the quarter. Grimes & Company Inc.’s holdings in Texas Pacific Land were worth $4,862,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land during the third quarter worth about $25,000. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land during the third quarter worth about $44,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the third quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the fourth quarter worth about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders purchased 78 shares of company stock valued at $105,810. 6.50% of the stock is owned by insiders.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,363.14 on Friday. The business has a 50 day moving average of $1,327.04 and a 200-day moving average of $1,075.14. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The company has a market capitalization of $31.33 billion, a P/E ratio of 69.94 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 EPS for the quarter. The business had revenue of $173.56 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same quarter in the previous year, the company earned $4.58 earnings per share.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is presently 32.84%.

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.