Rhumbline Advisers Sells 20,116 Shares of Texas Pacific Land Co. (NYSE:TPL)

Rhumbline Advisers decreased its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,673 shares of the financial services provider's stock after selling 20,116 shares during the quarter. Rhumbline Advisers owned 0.17% of Texas Pacific Land worth $42,771,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPL. Hilltop Holdings Inc. boosted its position in shares of Texas Pacific Land by 290.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider's stock valued at $1,606,000 after purchasing an additional 1,350 shares during the period. Quantinno Capital Management LP lifted its position in shares of Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock valued at $2,634,000 after acquiring an additional 1,156 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock valued at $7,864,000 after purchasing an additional 431 shares during the period. Biltmore Family Office LLC acquired a new stake in Texas Pacific Land during the third quarter valued at $337,000. Finally, Everence Capital Management Inc. bought a new stake in Texas Pacific Land during the fourth quarter valued at about $641,000. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock traded down $39.35 during midday trading on Friday, hitting $1,391.66. 28,021 shares of the company were exchanged, compared to its average volume of 121,981. The firm has a 50 day simple moving average of $1,284.12 and a 200-day simple moving average of $1,146.42. Texas Pacific Land Co. has a 52 week low of $493.40 and a 52 week high of $1,769.14. The firm has a market cap of $31.98 billion, a P/E ratio of 70.93 and a beta of 1.68.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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 40.28%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.

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.