Quadrature Capital Ltd Sells 15,210 Shares of Texas Pacific Land Co. (NYSE:TPL)

Quadrature Capital Ltd lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 98.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 286 shares of the financial services provider’s stock after selling 15,210 shares during the period. Quadrature Capital Ltd’s holdings in Texas Pacific Land were worth $253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TPL. Bank of New York Mellon Corp boosted its holdings in Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after acquiring an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of Texas Pacific Land in the 2nd quarter valued at $131,014,000. Charles Schwab Investment Management Inc. raised its stake in Texas Pacific Land by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after buying an additional 1,984 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after buying an additional 9,878 shares during the period. Finally, Douglass Winthrop Advisors LLC boosted its position in Texas Pacific Land by 3.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock valued at $87,764,000 after acquiring an additional 3,363 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 2.2 %

Shares of Texas Pacific Land stock opened at $1,298.12 on Wednesday. The company has a market cap of $29.83 billion, a P/E ratio of 66.60 and a beta of 1.62. The business has a 50-day moving average price of $1,260.26 and a two-hundred day moving average price of $954.92. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.49%. Texas Pacific Land’s payout ratio is 32.84%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now owns 584 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have acquired 117 shares of company stock worth $138,190. 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.