Texas Pacific Land Co. (NYSE:TPL) is Hodges Capital Management Inc.’s Largest Position

Hodges Capital Management Inc. lowered its position in Texas Pacific Land Co. (NYSE:TPL) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,514 shares of the financial services provider’s stock after selling 6,876 shares during the period. Texas Pacific Land makes up approximately 4.4% of Hodges Capital Management Inc.’s investment portfolio, making the stock its largest holding. Hodges Capital Management Inc.’s holdings in Texas Pacific Land were worth $72,455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPL. Caprock Group LLC lifted its stake in Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 8 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised 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 purchasing an additional 12 shares during the last quarter. Signaturefd LLC lifted its position in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the period. Glenmede Trust Co. NA boosted 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 last quarter. Finally, First Financial Bankshares Inc grew its position in Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 directly owns 584 shares of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased 68 shares of company stock valued at $94,696 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Up 0.2 %

Shares of TPL stock opened at $1,297.07 on Monday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The stock has a 50 day moving average of $1,304.42 and a 200 day moving average of $1,095.98. The stock has a market cap of $29.81 billion, a P/E ratio of 66.55 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 EPS for the quarter. The firm 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 last year, the business earned $4.58 earnings per share.

Texas Pacific Land Company 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.