California State Teachers Retirement System Lowers Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

California State Teachers Retirement System decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,054 shares of the financial services provider’s stock after selling 11,739 shares during the period. California State Teachers Retirement System owned approximately 0.33% of Texas Pacific Land worth $84,113,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Caprock Group LLC lifted its stake in Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after buying an additional 8 shares in the last quarter. Huntington National Bank grew its stake in Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock worth $368,000 after buying an additional 9 shares during the period. Signaturefd LLC lifted its stake in shares of Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 13 shares in 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 other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 90 shares of company stock valued at $117,505. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Up 1.3 %

Shares of NYSE TPL opened at $1,352.52 on Tuesday. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The stock’s 50 day moving average price is $1,305.89 and its two-hundred day moving average price is $1,297.85. The stock has a market capitalization of $31.09 billion, a P/E ratio of 68.59 and a beta of 1.44.

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

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

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.