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

Swiss National Bank reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,251 shares of the financial services provider's stock after selling 2,700 shares during the quarter. Swiss National Bank owned 0.24% of Texas Pacific Land worth $61,105,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. York GP Ltd. acquired a new stake in Texas Pacific Land in the fourth quarter valued at about $101,859,000. Geode Capital Management LLC increased its holdings in Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after purchasing an additional 81,974 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after purchasing an additional 43,217 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Texas Pacific Land in the fourth quarter worth approximately $41,303,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Texas Pacific Land during the fourth quarter valued at approximately $31,802,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded up $39.13 during midday trading on Wednesday, hitting $1,382.86. 142,219 shares of the stock traded hands, compared to its average volume of 127,973. The company has a market cap of $31.78 billion, a PE ratio of 70.12 and a beta of 1.69. Texas Pacific Land Co. has a one year low of $553.33 and a one year high of $1,769.14. The business has a 50 day moving average price of $1,347.30 and a two-hundred day moving average price of $1,215.48.

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Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company had revenue of $185.78 million for 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. Shareholders of record on Monday, March 3rd were given a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.46%. Texas Pacific Land's dividend payout ratio is currently 32.45%.

Insiders Place Their Bets

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 transaction, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of the business'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 in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 51 shares of company stock valued at $67,311. 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.