TIAA Trust National Association Sells 416 Shares of Texas Pacific Land Co. (NYSE:TPL)

TIAA Trust National Association cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 11,563 shares of the financial services provider’s stock after selling 416 shares during the quarter. TIAA Trust National Association’s holdings in Texas Pacific Land were worth $12,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. Hilltop Holdings Inc. boosted its stake in shares of Texas Pacific Land by 290.3% during the third quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 1,350 shares during the period. Quantinno Capital Management LP boosted its position in Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock valued at $2,634,000 after buying an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in 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 worth $7,864,000 after acquiring an additional 431 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at about $641,000. Finally, Miracle Mile Advisors LLC bought a new position in shares of Texas Pacific Land during the fourth quarter valued at about $8,545,000. 59.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 214 shares of the company’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 of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred on 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 transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was 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 purchased 59 shares of company stock worth $78,629. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Up 1.4 %

Texas Pacific Land stock opened at $1,363.79 on Wednesday. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The firm has a market cap of $31.35 billion, a P/E ratio of 69.16 and a beta of 1.69. The firm has a 50-day moving average of $1,352.55 and a 200-day moving average of $1,234.22.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s payout ratio is currently 32.45%.

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.