Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,190 shares of the financial services provider's stock after selling 2,860 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Texas Pacific Land were worth $3,528,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPL. Caprock Group LLC boosted its stake in shares of Texas Pacific Land by 3.0% during the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after buying an additional 8 shares during the last quarter. Huntington National Bank grew its holdings in Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock worth $368,000 after acquiring an additional 9 shares in the last quarter. Signaturefd LLC raised its stake in shares of Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Texas Pacific Land by 21.1% during the fourth 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, Bessemer Group Inc. grew its stake in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insiders Place Their Bets

In other news, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated 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 completion of the transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 90 shares of company stock valued at $117,505 over the last quarter. Insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Up 1.3 %

NYSE:TPL traded up $17.89 during trading hours on Monday, reaching $1,352.52. 45,564 shares of the stock were exchanged, compared to its average volume of 153,987. The stock has a market capitalization of $31.09 billion, a P/E ratio of 68.59 and a beta of 1.44. The firm has a 50 day simple moving average of $1,306.98 and a 200-day simple moving average of $1,295.81. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The firm had revenue of $185.78 million during 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 annualized dividend and a yield of 0.47%. Texas Pacific Land's dividend payout ratio (DPR) is 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.