Texas Pacific Land Co. (NYSE:TPL) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 76.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 900 shares of the financial services provider's stock after selling 2,900 shares during the period. New Mexico Educational Retirement Board's holdings in Texas Pacific Land were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. York GP Ltd. purchased a new stake in Texas Pacific Land during the 4th quarter worth approximately $101,859,000. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock worth $411,943,000 after purchasing an additional 81,974 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $45,400,000. State Street Corp boosted its holdings in shares of Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider's stock worth $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $14,949,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 2.8 %

Shares of Texas Pacific Land stock traded down $40.38 on Friday, hitting $1,390.63. 24,479 shares of the company were exchanged, compared to its average volume of 121,909. The stock has a market capitalization of $31.96 billion, a price-to-earnings ratio of 70.24 and a beta of 1.68. The company has a 50-day moving average price of $1,284.12 and a 200 day moving average price of $1,146.42. Texas Pacific Land Co. has a 1-year low of $493.40 and a 1-year 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. Texas Pacific Land had a return on equity of 40.28% and a net margin of 64.32%. The business had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land's dividend payout ratio is presently 32.45%.

Texas Pacific Land Company 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.