Meiji Yasuda Asset Management Co Ltd. Has $286,000 Holdings in Texas Pacific Land Co. (NYSE:TPL)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259 shares of the financial services provider's stock after selling 474 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Texas Pacific Land were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TPL. Assetmark Inc. bought a new stake in Texas Pacific Land during the 4th quarter worth about $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land during the fourth quarter worth about $31,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the third quarter valued at approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Texas Pacific Land in the fourth quarter valued at approximately $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after purchasing an additional 12 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 0.5 %

Shares of NYSE TPL traded up $6.73 during trading hours on Tuesday, hitting $1,331.72. The company had a trading volume of 55,041 shares, compared to its average volume of 148,090. The firm's 50 day moving average is $1,347.30 and its 200-day moving average is $1,249.46. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The stock has a market capitalization of $30.61 billion, a P/E ratio of 67.43 and a beta of 1.69.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land's dividend payout ratio is 32.45%.

Insider Activity

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated 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 represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 70 shares of company stock valued at $93,775 over the last three months. 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.