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

American Money Management LLC cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,644 shares of the financial services provider's stock after selling 382 shares during the period. Texas Pacific Land accounts for about 2.5% of American Money Management LLC's investment portfolio, making the stock its 8th biggest holding. American Money Management LLC owned 0.05% of Texas Pacific Land worth $12,878,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 12.5% during 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 purchasing an additional 260,278 shares during the period. York GP Ltd. acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $101,859,000. Geode Capital Management LLC lifted its stake in Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 valued at $198,669,000 after buying an additional 43,217 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Texas Pacific Land during the fourth quarter worth $41,303,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL traded down $146.58 during trading hours on Thursday, reaching $1,244.85. The stock had a trading volume of 64,026 shares, compared to its average volume of 148,464. The company's 50-day moving average is $1,345.52 and its two-hundred day moving average is $1,254.25. 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 capitalization of $28.61 billion, a PE ratio of 63.13 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.51%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Activity

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated 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 transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 69 shares of company stock worth $92,626 in the last three months. Company insiders own 6.50% of the company's stock.

Texas Pacific Land 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.