Two Sigma Securities LLC Decreases Stake in Texas Pacific Land Co. (NYSE:TPL)

Two Sigma Securities LLC reduced its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,326 shares of the financial services provider's stock after selling 287 shares during the period. Two Sigma Securities LLC's holdings in Texas Pacific Land were worth $1,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPL. JPMorgan Chase & Co. raised its position in Texas Pacific Land by 19.9% during 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. bought a new stake in Texas Pacific Land during the 4th quarter valued at $641,000. Miracle Mile Advisors LLC bought a new stake in Texas Pacific Land during the 4th quarter valued at $8,545,000. Brave Asset Management Inc. raised its position in Texas Pacific Land by 87.1% during 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 raised its position in 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 valued at $18,251,000 after purchasing an additional 1,891 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE TPL traded up $17.89 on Monday, reaching $1,352.52. 60,383 shares of the stock traded hands, compared to its average volume of 153,988. The company has a market cap of $31.09 billion, a price-to-earnings ratio of 68.59 and a beta of 1.44. Texas Pacific Land Co. has a 12 month low of $555.71 and a 12 month high of $1,769.14. The company has a fifty day moving average price of $1,306.98 and a 200-day moving average price of $1,295.81.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company 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 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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio is currently 32.45%.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction dated 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 sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 90 shares of company stock worth $117,505. Corporate insiders own 6.50% of the company's stock.

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.