Sei Investments Co. Trims Holdings in Texas Pacific Land Co. (NYSE:TPL)

Sei Investments Co. reduced its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,404 shares of the financial services provider's stock after selling 310 shares during the quarter. Sei Investments Co.'s holdings in Texas Pacific Land were worth $1,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the 4th quarter worth $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land during the fourth quarter worth about $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Texas Pacific Land in the 4th quarter worth about $66,000. 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 valued at $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the firm's 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company's stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 78 shares of company stock worth $102,694. Company insiders own 6.50% of the company's stock.

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Texas Pacific Land Stock Performance

TPL traded up $48.99 during midday trading on Friday, hitting $1,235.66. The stock had a trading volume of 100,842 shares, compared to its average volume of 152,368. Texas Pacific Land Co. has a 1 year low of $555.71 and a 1 year high of $1,769.14. The business has a fifty day moving average of $1,321.56 and a 200 day moving average of $1,269.00. The company has a market cap of $28.40 billion, a P/E ratio of 62.66 and a beta of 1.44.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) 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 during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.52%. 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.