Teacher Retirement System of Texas Acquires Shares of 183 Texas Pacific Land Co. (NYSE:TPL)

Teacher Retirement System of Texas acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 183 shares of the financial services provider's stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TPL. Assetmark Inc. acquired a new stake in Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $66,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in Texas Pacific Land during the 4th quarter worth $87,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 6.9 %

NYSE TPL traded up $74.57 during trading hours on Monday, hitting $1,153.57. 366,727 shares of the company were exchanged, compared to its average volume of 151,252. The company has a 50 day moving average of $1,334.28 and a two-hundred day moving average of $1,262.71. The firm has a market cap of $26.51 billion, a price-to-earnings ratio of 58.50 and a beta of 1.44. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.55%. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.

Insider Buying and Selling

In related news, CFO Chris Steddum sold 214 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction 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 trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 74 shares of company stock worth $98,891. 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.