Virtu Financial LLC cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 63.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199 shares of the financial services provider's stock after selling 339 shares during the quarter. Virtu Financial LLC's holdings in Texas Pacific Land were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in 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 worth $674,727,000 after buying an additional 27,884 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Texas Pacific Land by 21.5% during the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock valued at $411,943,000 after buying an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider's stock worth $198,669,000 after buying an additional 43,217 shares during the period. Douglass Winthrop Advisors LLC lifted its stake in shares of Texas Pacific Land by 0.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider's stock valued at $109,995,000 after acquiring an additional 259 shares during the last quarter. Finally, York GP Ltd. purchased a new position in Texas Pacific Land in the 4th quarter worth approximately $101,859,000. Hedge funds and other institutional investors own 59.94% of the company's stock.
Insider Activity
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 sale, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 70 shares of company stock valued at $93,775. Company insiders own 6.50% of the company's stock.
Texas Pacific Land Trading Up 0.2 %
Shares of NYSE:TPL traded up $2.80 during trading on Tuesday, reaching $1,327.79. 47,185 shares of the company traded hands, compared to its average volume of 148,062. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 67.29 and a beta of 1.69. The business's fifty day moving average is $1,347.30 and its 200-day moving average is $1,249.46.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results 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 for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.
Texas Pacific Land Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.45%.
About Texas Pacific Land
(
Free Report)
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.
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