Texas Pacific Land Co. (NYSE:TPL) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,817 shares of the financial services provider's stock after selling 4,778 shares during the period. MetLife Investment Management LLC's holdings in Texas Pacific Land were worth $6,433,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in Texas Pacific Land by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after purchasing an additional 6,747 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Texas Pacific Land in the fourth quarter worth approximately $641,000. Miracle Mile Advisors LLC purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $8,545,000. Brave Asset Management Inc. raised its holdings in shares of Texas Pacific Land by 87.1% in the 4th quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider's stock valued at $594,000 after purchasing an additional 250 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Texas Pacific Land by 12.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider's stock worth $18,251,000 after purchasing an additional 1,891 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm's 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 transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 86 shares of company stock valued at $112,203 in the last ninety days. Insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,310.01 on Wednesday. The firm has a market capitalization of $30.11 billion, a PE ratio of 66.43 and a beta of 1.44. The business's fifty day moving average price is $1,310.05 and its 200 day moving average price is $1,286.34. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14.

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

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's payout ratio is 32.45%.

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.

Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Co. (NYSE:TPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.