Securian Asset Management Inc. Sells 463 Shares of Texas Pacific Land Co. (NYSE:TPL)

Securian Asset Management Inc. cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,023 shares of the financial services provider's stock after selling 463 shares during the quarter. Securian Asset Management Inc.'s holdings in Texas Pacific Land were worth $1,131,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $29,000. Quest Partners LLC bought a new stake in Texas Pacific Land in the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Texas Pacific Land during the fourth quarter valued at about $66,000. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $76,000 after purchasing an additional 12 shares during the period. Finally, Sentry Investment Management LLC bought a new position in Texas Pacific Land during the fourth quarter worth about $87,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.2 %

Shares of NYSE TPL traded up $2.85 during midday trading on Tuesday, hitting $1,342.44. The company's stock had a trading volume of 80,580 shares, compared to its average volume of 139,399. The firm has a market capitalization of $30.86 billion, a price-to-earnings ratio of 68.08 and a beta of 1.69. The stock has a fifty day moving average price of $1,347.30 and a 200 day moving average price of $1,215.48. Texas Pacific Land Co. has a one year low of $553.33 and a one year high of $1,769.14.

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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 business had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's payout ratio is currently 32.45%.

Insider Transactions at Texas Pacific Land

In other news, 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 value of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 51 shares of company stock valued at $67,311 over the last three months. Company insiders own 6.50% of the company's stock.

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.