Crossmark Global Holdings Inc. Lowers Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Crossmark Global Holdings Inc. lowered its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 57.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 635 shares of the financial services provider’s stock after selling 846 shares during the period. Crossmark Global Holdings Inc.’s holdings in Texas Pacific Land were worth $702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop Holdings Inc. grew its position in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 1,350 shares in the last quarter. Quantinno Capital Management LP grew its position in Texas Pacific Land by 63.5% during the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after acquiring an additional 431 shares during the last quarter. Biltmore Family Office LLC purchased a new stake in shares of Texas Pacific Land in the 3rd quarter valued at about $337,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at about $641,000. Institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have bought 78 shares of company stock valued at $105,810. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Down 3.0 %

TPL stock opened at $1,363.14 on Friday. The company’s 50 day moving average is $1,327.04 and its 200 day moving average is $1,077.42. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 69.94 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.

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

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $1.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend 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.