Texas Pacific Land Co. (NYSE:TPL) Holdings Decreased by American Money Management LLC

American Money Management LLC reduced its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,644 shares of the financial services provider's stock after selling 382 shares during the period. Texas Pacific Land comprises 2.5% of American Money Management LLC's investment portfolio, making the stock its 8th largest position. American Money Management LLC owned 0.05% of Texas Pacific Land worth $12,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock worth $2,599,426,000 after buying an additional 260,278 shares during the period. York GP Ltd. bought a new stake in Texas Pacific Land in the 4th quarter worth $101,859,000. Geode Capital Management LLC increased its position in shares of 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 valued at $411,943,000 after acquiring an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Texas Pacific Land by 31.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock valued at $198,669,000 after acquiring an additional 43,217 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $41,303,000. Institutional investors own 59.94% of the company's stock.

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Texas Pacific Land Stock Performance

Shares of NYSE TPL traded up $25.09 during trading hours on Tuesday, hitting $1,350.08. The company's stock had a trading volume of 133,163 shares, compared to its average volume of 148,391. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The stock has a market cap of $31.03 billion, a price-to-earnings ratio of 68.46 and a beta of 1.69. The business has a 50-day simple moving average of $1,347.30 and a 200-day simple moving average of $1,249.46.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's 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 Texas Pacific Land 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 transaction of $1,462,248.00. Following the sale, the vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 70 shares of company stock worth $93,775. 6.50% of the stock is currently owned by corporate insiders.

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.