Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 80.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the financial services provider's stock after selling 4,200 shares during the period. Louisiana State Employees Retirement System's holdings in Texas Pacific Land were worth $1,106,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock valued at $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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. increased its position in shares of Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider's stock valued at $120,694,000 after purchasing an additional 1,984 shares during the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Texas Pacific Land by 3.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider's stock valued at $87,764,000 after purchasing an additional 3,363 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Texas Pacific Land by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,836 shares of the financial services provider's stock valued at $62,671,000 after purchasing an additional 6,598 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $45.84 during trading hours on Friday, reaching $1,385.17. The stock had a trading volume of 24,479 shares, compared to its average volume of 121,909. Texas Pacific Land Co. has a 1 year low of $493.40 and a 1 year high of $1,769.14. The firm's 50 day moving average is $1,284.12 and its 200-day moving average is $1,146.42. The stock has a market capitalization of $31.83 billion, a price-to-earnings ratio of 70.24 and a beta of 1.68.

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 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.28%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land's payout ratio 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.