Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Decreased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lessened its position in Texas Pacific Land Co. (NYSE:TPL) by 34.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,238 shares of the financial services provider’s stock after selling 2,762 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Texas Pacific Land were worth $5,793,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its stake in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock worth $53,000 after buying an additional 15 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Texas Pacific Land by 127.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 861 shares of the financial services provider’s stock valued at $952,000 after buying an additional 483 shares during the period. Norinchukin Bank The acquired a new stake in Texas Pacific Land during the fourth quarter worth about $730,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Texas Pacific Land in the 4th quarter valued at approximately $544,000. Finally, First Trust Advisors LP lifted its position in shares of Texas Pacific Land by 10.5% in the 4th quarter. First Trust Advisors LP now owns 90,152 shares of the financial services provider’s stock worth $99,705,000 after acquiring an additional 8,593 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.6 %

TPL opened at $1,338.21 on Friday. The stock has a market cap of $30.76 billion, a PE ratio of 67.86 and a beta of 1.44. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The stock’s 50 day simple moving average is $1,308.63 and its 200-day simple moving average is $1,289.10.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 88 shares of company stock worth $114,764. Corporate insiders own 6.50% of the company’s stock.

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.