Securian Asset Management Inc. lowered its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 31.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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.
Several other hedge funds and other institutional investors have also made changes to their positions in TPL. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at $29,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land in the third quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land in the 4th quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after buying an additional 12 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in Texas Pacific Land in the 4th quarter worth about $87,000. Hedge funds and other institutional investors own 59.94% of the company's stock.
Texas Pacific Land Stock Down 0.3 %
TPL stock traded down $3.83 during trading on Tuesday, hitting $1,335.76. The company had a trading volume of 13,443 shares, compared to its average volume of 126,331. The firm has a market capitalization of $30.70 billion, a P/E ratio of 67.72 and a beta of 1.69. Texas Pacific Land Co. has a 52-week low of $553.33 and a 52-week high of $1,769.14. The company has a 50 day simple moving average of $1,345.70 and a 200-day simple moving average of $1,212.14.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company 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 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.
Insiders Place Their Bets
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 transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The sale 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 stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $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 have acquired a total of 48 shares of company stock worth $63,363 in the last three months. Corporate insiders own 6.50% of the company's stock.
About Texas Pacific Land
(
Free Report)
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.
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