Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Cortland Associates Inc. MO

Cortland Associates Inc. MO reduced its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 63.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,884 shares of the financial services provider's stock after selling 26,379 shares during the quarter. Texas Pacific Land makes up approximately 1.9% of Cortland Associates Inc. MO's investment portfolio, making the stock its 17th largest position. Cortland Associates Inc. MO owned about 0.06% of Texas Pacific Land worth $16,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TPL. Sei Investments Co. increased its stake in Texas Pacific Land by 14.2% during the second quarter. Sei Investments Co. now owns 901 shares of the financial services provider's stock worth $662,000 after purchasing an additional 112 shares during the period. Bank of Montreal Can grew its holdings in Texas Pacific Land by 21.6% during the 2nd quarter. Bank of Montreal Can now owns 6,419 shares of the financial services provider's stock worth $4,871,000 after acquiring an additional 1,141 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Texas Pacific Land by 188.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,475 shares of the financial services provider's stock valued at $12,097,000 after purchasing an additional 10,754 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Texas Pacific Land by 43.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,096 shares of the financial services provider's stock valued at $805,000 after purchasing an additional 330 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Texas Pacific Land by 3.4% during the 2nd quarter. Creative Planning now owns 6,348 shares of the financial services provider's stock worth $4,661,000 after purchasing an additional 207 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

NYSE TPL traded up $12.69 during trading on Thursday, reaching $1,284.68. 45,718 shares of the company's stock were exchanged, compared to its average volume of 138,989. The company has a 50 day moving average price of $1,317.58 and a two-hundred day moving average price of $1,087.45. The stock has a market cap of $29.52 billion, a P/E ratio of 66.36 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 earnings per share for the quarter. The firm had revenue of $173.56 million during the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%. During the same quarter in the previous year, the firm earned $4.58 EPS.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $1.60 dividend. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio is presently 32.84%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 73 shares of company stock valued at $100,462 in the last ninety days. Insiders own 6.50% of the company's stock.

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.