Swiss National Bank Reduces Position in Texas Pacific Land Co. (NYSE:TPL)

Swiss National Bank cut its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,251 shares of the financial services provider's stock after selling 2,700 shares during the quarter. Swiss National Bank owned approximately 0.24% of Texas Pacific Land worth $61,105,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in Texas Pacific Land during the 4th quarter worth approximately $29,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $66,000. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 worth $76,000 after buying an additional 12 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $87,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of TPL stock traded down $3.83 during trading hours on Tuesday, reaching $1,335.76. 13,443 shares of the company's stock were exchanged, compared to its average volume of 126,331. The company has a market cap of $30.70 billion, a P/E ratio of 67.72 and a beta of 1.69. The company's 50 day moving average is $1,345.70 and its two-hundred day moving average is $1,212.14. Texas Pacific Land Co. has a 1 year low of $553.33 and a 1 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. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The company also recently disclosed 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 payout ratio is currently 32.45%.

Insider Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction that occurred 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. This trade represents a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 48 shares of company stock valued at $63,363 in the last ninety days. Corporate 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.