Jane Street Group LLC Reduces Position in Texas Pacific Land Co. (NYSE:TPL)

Jane Street Group LLC trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 32.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,159 shares of the financial services provider's stock after selling 4,004 shares during the period. Jane Street Group LLC's holdings in Texas Pacific Land were worth $7,219,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land during the third quarter valued at $25,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land during the 3rd quarter valued at about $44,000. Quest Partners LLC bought a new stake in Texas Pacific Land during the 3rd quarter valued at about $50,000. American National Bank bought a new stake in Texas Pacific Land during the 2nd quarter valued at about $42,000. Finally, Signaturefd LLC raised its holdings in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after buying an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $2.11 during trading on Friday, reaching $1,198.97. 125,654 shares of the stock traded hands, compared to its average volume of 436,024. The stock has a market cap of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. The stock has a 50-day moving average of $1,274.68 and a two-hundred day moving average of $967.32. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.60 dividend. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.84%.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares of the company's stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have acquired a total of 117 shares of company stock valued at $139,646 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

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.