Swiss National Bank trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,251 shares of the financial services provider's stock after selling 2,700 shares during the period. Swiss National Bank owned 0.24% of Texas Pacific Land worth $61,105,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. Assetmark Inc. bought a new position in Texas Pacific Land in the 4th quarter worth approximately $29,000. Quest Partners LLC bought a new position in Texas Pacific Land in the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Texas Pacific Land in the 4th quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. raised its position 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 purchasing an additional 12 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new position in Texas Pacific Land in the 4th quarter worth approximately $87,000. 59.94% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Texas Pacific Land
In other news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 of the company's stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, 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. Insiders acquired a total of 51 shares of company stock worth $67,311 in the last three months. Insiders own 6.50% of the company's stock.
Texas Pacific Land Price Performance
Shares of Texas Pacific Land stock traded up $2.85 during trading on Tuesday, hitting $1,342.44. 80,580 shares of the company were exchanged, compared to its average volume of 139,399. The firm has a market capitalization of $30.86 billion, a P/E ratio of 68.08 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $553.33 and a 1-year high of $1,769.14. The firm's fifty day moving average price is $1,347.30 and its 200 day moving average price is $1,215.48.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The company had revenue of $185.78 million during the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.
Texas Pacific Land Dividend Announcement
The firm 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 was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio is 32.45%.
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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