Texas Pacific Land Co. (NYSE:TPL) Stock Position Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,969 shares of the financial services provider's stock after selling 1,260 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Texas Pacific Land worth $13,237,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TPL. Assetmark Inc. bought a new position in Texas Pacific Land during the 4th quarter valued at $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the fourth quarter worth about $31,000. Quest Partners LLC acquired a new position in Texas Pacific Land in the third quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the fourth quarter valued at about $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% during 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 buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Up 0.5 %

NYSE:TPL traded up $6.61 during trading hours on Tuesday, reaching $1,331.60. 55,727 shares of the stock were exchanged, compared to its average volume of 129,084. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The stock has a market capitalization of $30.61 billion, a P/E ratio of 67.53 and a beta of 1.69. The firm has a 50 day simple moving average of $1,347.30 and a 200-day simple moving average of $1,249.46.

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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 during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently announced 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 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the company's 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 owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 3,502 shares in the company, 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. Over the last three months, insiders have purchased 70 shares of company stock worth $93,775. 6.50% of the stock is owned by insiders.

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.