TIAA Trust National Association Has $12.79 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

TIAA Trust National Association lowered its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,563 shares of the financial services provider's stock after selling 416 shares during the period. TIAA Trust National Association owned approximately 0.05% of Texas Pacific Land worth $12,788,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Assetmark Inc. bought a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc bought a new stake in Texas Pacific Land during the fourth quarter worth $31,000. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Texas Pacific Land in the 4th quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock worth $76,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling

In other news, CFO Chris Steddum sold 214 shares of the business's stock in a transaction dated 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 directly owns 3,502 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought 68 shares of company stock worth $91,008 in the last 90 days. Insiders own 6.50% of the company's stock.

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Texas Pacific Land Price Performance

NYSE:TPL traded down $24.05 during trading hours on Friday, hitting $1,307.86. The company's stock had a trading volume of 103,050 shares, compared to its average volume of 148,528. The company has a market capitalization of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The stock has a fifty day simple moving average of $1,348.93 and a 200-day simple moving average of $1,242.51.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business had revenue of $185.78 million during the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

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