Dimensional Fund Advisors LP Trims Holdings in Texas Pacific Land Co. (NYSE:TPL)

Dimensional Fund Advisors LP lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,724 shares of the financial services provider's stock after selling 12,930 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.54% of Texas Pacific Land worth $136,835,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TPL. Barclays PLC lifted its stake in shares of Texas Pacific Land by 6.1% during the 3rd quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock worth $17,600,000 after purchasing an additional 1,152 shares during the period. Tidal Investments LLC raised its position in shares of Texas Pacific Land by 143.8% in the 3rd quarter. Tidal Investments LLC now owns 5,319 shares of the financial services provider's stock worth $4,706,000 after buying an additional 3,137 shares during the period. Synovus Financial Corp purchased a new position in shares of Texas Pacific Land in the 3rd quarter worth $208,000. Franklin Resources Inc. raised its position in shares of Texas Pacific Land by 74.0% in the 3rd quarter. Franklin Resources Inc. now owns 14,367 shares of the financial services provider's stock worth $12,711,000 after buying an additional 6,109 shares during the period. Finally, First Financial Bank Trust Division purchased a new position in shares of Texas Pacific Land in the 4th quarter worth $217,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL traded up $17.89 during trading hours on Monday, hitting $1,352.52. The stock had a trading volume of 60,383 shares, compared to its average volume of 153,988. The firm has a market cap of $31.09 billion, a P/E ratio of 68.59 and a beta of 1.44. The company's fifty day simple moving average is $1,305.89 and its 200 day simple moving average is $1,297.85. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The business had revenue of $185.78 million for 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 90 shares of company stock valued at $117,505 over the last three months. 6.50% of the stock is owned by company insiders.

Texas Pacific Land 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.