Virtu Financial LLC Cuts Holdings in Texas Pacific Land Co. (NYSE:TPL)

Virtu Financial LLC reduced its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 53.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 538 shares of the financial services provider's stock after selling 619 shares during the quarter. Virtu Financial LLC's holdings in Texas Pacific Land were worth $475,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Hilltop Holdings Inc. grew its position in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider's stock worth $1,606,000 after buying an additional 1,350 shares during the period. Quantinno Capital Management LP increased its stake in Texas Pacific Land by 63.5% in the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock valued at $2,634,000 after purchasing an additional 1,156 shares in the last quarter. Biltmore Family Office LLC bought a new position in shares of Texas Pacific Land during the 3rd quarter worth about $337,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Texas Pacific Land by 5.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider's stock valued at $7,864,000 after buying an additional 431 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Texas Pacific Land in the 3rd quarter valued at about $304,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares of the company's stock, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 115 shares of company stock worth $138,381. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Up 1.7 %

NYSE:TPL traded up $19.92 on Monday, hitting $1,218.89. The stock had a trading volume of 205,703 shares, compared to its average volume of 132,189. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14. The business's fifty day moving average is $1,274.68 and its 200 day moving average is $967.32. The company has a market cap of $28.00 billion, a PE ratio of 61.52 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.53%. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.84%.

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.