Cim LLC Reduces Position in Texas Pacific Land Trust (TPL)

Cim LLC cut its position in shares of Texas Pacific Land Trust (NYSE:TPL) by 1.5% in the first quarter, Holdings Channel reports. The institutional investor owned 972 shares of the financial services provider’s stock after selling 15 shares during the period. Cim LLC’s holdings in Texas Pacific Land Trust were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Management Professionals Inc. boosted its stake in Texas Pacific Land Trust by 19.4% during the fourth quarter. Financial Management Professionals Inc. now owns 154 shares of the financial services provider’s stock valued at $83,000 after buying an additional 25 shares during the last quarter. Cordasco Financial Network purchased a new stake in Texas Pacific Land Trust during the first quarter valued at approximately $33,000. Janney Montgomery Scott LLC raised its position in Texas Pacific Land Trust by 4.3% during the first quarter. Janney Montgomery Scott LLC now owns 1,130 shares of the financial services provider’s stock valued at $874,000 after purchasing an additional 47 shares during the period. Advisor Group Inc. raised its position in Texas Pacific Land Trust by 34.1% during the fourth quarter. Advisor Group Inc. now owns 236 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 60 shares during the period. Finally, Ipswich Investment Management Co. Inc. raised its position in Texas Pacific Land Trust by 4.5% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 2,300 shares of the financial services provider’s stock valued at $1,246,000 after purchasing an additional 100 shares during the period. 39.72% of the stock is owned by institutional investors.

Shares of NYSE TPL traded up $9.24 during midday trading on Wednesday, hitting $824.06. The company’s stock had a trading volume of 8 shares, compared to its average volume of 15,323. The company has a debt-to-equity ratio of 0.01, a quick ratio of 18.54 and a current ratio of 18.54. Texas Pacific Land Trust has a 12-month low of $409.00 and a 12-month high of $915.66. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 19.96 and a beta of 1.30.

Texas Pacific Land Trust (NYSE:TPL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $18.04 earnings per share for the quarter. Texas Pacific Land Trust had a return on equity of 132.12% and a net margin of 162.78%. The firm had revenue of $33.21 million for the quarter.

In other Texas Pacific Land Trust news, major shareholder Kinetics Asset Managem Horizon purchased 36 shares of Texas Pacific Land Trust stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $799.98 per share, for a total transaction of $28,799.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Horizon Kinetics Llc purchased 42 shares of Texas Pacific Land Trust stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $741.16 per share, for a total transaction of $31,128.72. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 955 shares of company stock worth $775,892. Company insiders own 0.92% of the company’s stock.

Separately, ValuEngine upgraded Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a report on Friday, January 25th.

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About Texas Pacific Land Trust

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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Institutional Ownership by Quarter for Texas Pacific Land Trust (NYSE:TPL)

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