Lionsbridge Wealth Management LLC Sells 67 Shares of Texas Pacific Land Co. (NYSE:TPL)

Lionsbridge Wealth Management LLC cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 625 shares of the financial services provider’s stock after selling 67 shares during the quarter. Lionsbridge Wealth Management LLC’s holdings in Texas Pacific Land were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TPL. Thurston Springer Miller Herd & Titak Inc. boosted its position in 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 worth $76,000 after purchasing an additional 12 shares during the last quarter. Signaturefd LLC boosted its holdings 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 worth $80,000 after buying an additional 13 shares during the last quarter. Glenmede Trust Co. NA grew its position in Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock valued at $390,000 after buying an additional 13 shares during the period. First Financial Bankshares Inc increased its holdings in Texas Pacific Land by 2.2% during the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after buying an additional 16 shares during the last quarter. Finally, Peloton Wealth Strategists raised its position 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 worth $1,125,000 after acquiring an additional 23 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,409.30 on Monday. The company has a market cap of $32.39 billion, a price-to-earnings ratio of 72.31 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The firm has a fifty day moving average price of $1,324.75 and a 200-day moving average price of $1,056.75.

Texas Pacific Land Increases Dividend

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

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 transaction, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased a total of 81 shares of company stock worth $108,145 over the last quarter. 6.50% of the stock is currently owned by corporate insiders.

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.