Texas Pacific Land Co. (NYSE:TPL) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 52.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,045 shares of the financial services provider’s stock after selling 13,462 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Texas Pacific Land were worth $13,319,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Farringdon Capital Ltd. acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $426,000. NewEdge Advisors LLC increased its holdings in shares of Texas Pacific Land by 58.6% in the 4th quarter. NewEdge Advisors LLC now owns 525 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 194 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Texas Pacific Land in the 4th quarter valued at $1,394,000. Gamco Investors INC. ET AL boosted its stake in Texas Pacific Land by 15.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 6,293 shares of the financial services provider’s stock worth $6,960,000 after purchasing an additional 838 shares during the period. Finally, Jump Financial LLC purchased a new position in Texas Pacific Land during the 4th quarter worth $247,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,295.51 on Monday. Texas Pacific Land Co. has a one year low of $555.71 and a one year high of $1,769.14. The company has a 50-day simple moving average of $1,312.81 and a 200-day simple moving average of $1,284.28. The stock has a market capitalization of $29.78 billion, a price-to-earnings ratio of 65.70 and a beta of 1.44.

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

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 84 shares of company stock valued at $109,748 over the last quarter. 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.