Viking Fund Management LLC Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Viking Fund Management LLC reduced its stake in Texas Pacific Land Co. (NYSE:TPL) by 37.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,000 shares of the financial services provider’s stock after selling 600 shares during the quarter. Viking Fund Management LLC’s holdings in Texas Pacific Land were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPL. Atomi Financial Group Inc. acquired a new position in shares of Texas Pacific Land in the fourth quarter worth $341,000. UMB Bank n.a. boosted its holdings in shares of Texas Pacific Land by 2,839.8% in the 4th quarter. UMB Bank n.a. now owns 2,881 shares of the financial services provider’s stock valued at $3,186,000 after buying an additional 2,783 shares in the last quarter. Sandbox Financial Partners LLC grew its holdings in shares of Texas Pacific Land by 17.4% during the fourth quarter. Sandbox Financial Partners LLC now owns 2,722 shares of the financial services provider’s stock worth $3,010,000 after purchasing an additional 404 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Texas Pacific Land by 7.1% during the fourth quarter. HB Wealth Management LLC now owns 1,153 shares of the financial services provider’s stock worth $1,276,000 after buying an additional 76 shares during the period. Finally, Brave Asset Management Inc. raised its stake in shares of Texas Pacific Land by 87.1% during the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 250 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 79 shares of company stock worth $106,288. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,413.97 on Wednesday. The company has a market cap of $32.49 billion, a PE ratio of 72.55 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 stock’s 50 day moving average price is $1,325.11 and its 200 day moving average price is $1,066.10.

Texas Pacific Land (NYSE:TPL) last released its quarterly 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 net margin of 65.34% and a return on equity of 40.57%. During the same quarter in the prior year, the company earned $4.58 earnings per share.

Texas Pacific Land Increases Dividend

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

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.