Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Sumitomo Mitsui Trust Group Inc. cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,183 shares of the financial services provider’s stock after selling 2,601 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Texas Pacific Land were worth $48,865,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth $44,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land during the third quarter worth $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Texas Pacific Land in the fourth quarter valued at $66,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

TPL opened at $1,378.79 on Tuesday. The business’s 50-day simple moving average is $1,276.13 and its 200-day simple moving average is $1,119.22. The company has a market cap of $31.68 billion, a P/E ratio of 70.74 and a beta of 1.68. Texas Pacific Land Co. has a one year low of $471.06 and a one year high of $1,769.14.

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.