California Public Employees Retirement System lowered its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,805 shares of the financial services provider's stock after selling 1,188 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Texas Pacific Land worth $41,811,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of TPL. Hilltop Holdings Inc. raised its position in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider's stock valued at $1,606,000 after acquiring an additional 1,350 shares in the last quarter. Quantinno Capital Management LP increased its stake in Texas Pacific Land by 63.5% during the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock valued at $2,634,000 after purchasing an additional 1,156 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock worth $7,864,000 after purchasing an additional 431 shares during the period. Everence Capital Management Inc. bought a new position in shares of Texas Pacific Land in the 4th quarter worth about $641,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at about $8,545,000. Institutional investors own 59.94% of the company's stock.
Insider Activity
In other news, CFO Chris Steddum sold 214 shares of Texas Pacific Land 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 transaction of $281,193.86. Following the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 74 shares of company stock valued at $98,891. 6.50% of the stock is currently owned by company insiders.
Texas Pacific Land Price Performance
Shares of NYSE:TPL traded up $74.57 during trading on Monday, reaching $1,153.57. 366,727 shares of the company's stock traded hands, compared to its average volume of 151,252. The stock has a market capitalization of $26.51 billion, a P/E ratio of 58.50 and a beta of 1.44. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The company has a 50 day moving average of $1,334.28 and a 200-day moving average of $1,262.71.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company had revenue of $185.78 million during 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 business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is 32.45%.
About Texas Pacific Land
(
Free Report)
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.
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