Texas Pacific Land Co. (NYSE:TPL) Shares Sold by FIL Ltd

FIL Ltd trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 73.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,188 shares of the financial services provider's stock after selling 11,342 shares during the quarter. FIL Ltd's holdings in Texas Pacific Land were worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TPL. Shelton Capital Management grew its stake in shares of Texas Pacific Land by 161.8% during the fourth quarter. Shelton Capital Management now owns 1,906 shares of the financial services provider's stock worth $2,108,000 after acquiring an additional 1,178 shares during the last quarter. Invesco Ltd. boosted its stake in Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares in the last quarter. Bank of Montreal Can grew its position in Texas Pacific Land by 164.9% during the 4th quarter. Bank of Montreal Can now owns 17,377 shares of the financial services provider's stock worth $19,218,000 after purchasing an additional 10,816 shares during the last quarter. Titleist Asset Management LLC increased its stake in Texas Pacific Land by 23.1% during the 4th quarter. Titleist Asset Management LLC now owns 533 shares of the financial services provider's stock valued at $589,000 after purchasing an additional 100 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Texas Pacific Land by 16.4% during the 4th quarter. Russell Investments Group Ltd. now owns 9,501 shares of the financial services provider's stock valued at $10,509,000 after purchasing an additional 1,340 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction on 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, 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. Insiders have bought a total of 84 shares of company stock worth $109,748 over the last quarter. Insiders own 6.50% of the company's stock.

Texas Pacific Land Trading Up 1.4 %

Shares of NYSE:TPL traded up $17.93 on Friday, hitting $1,295.51. 103,730 shares of the company were exchanged, compared to its average volume of 152,865. The firm has a market capitalization of $29.78 billion, a P/E ratio of 65.70 and a beta of 1.44. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The stock's 50 day moving average price is $1,314.16 and its 200 day moving average price is $1,277.05.

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 (EPS) 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis 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 32.45%.

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.