State of Tennessee Department of Treasury Has $5.79 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

State of Tennessee Department of Treasury reduced its holdings in Texas Pacific Land Co. (NYSE:TPL) by 34.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,238 shares of the financial services provider’s stock after selling 2,762 shares during the period. State of Tennessee Department of Treasury’s holdings in Texas Pacific Land were worth $5,793,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the 4th quarter valued at approximately $31,000. TD Waterhouse Canada Inc. boosted its stake in Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 15 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Texas Pacific Land during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 88 shares of company stock worth $114,764 over the last quarter. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Performance

TPL opened at $1,338.21 on Friday. The firm’s fifty day moving average is $1,308.63 and its two-hundred day moving average is $1,289.10. The firm has a market cap of $30.76 billion, a PE ratio of 67.86 and a beta of 1.44. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date 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.