California State Teachers Retirement System Has $84.11 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

California State Teachers Retirement System reduced its stake in Texas Pacific Land Co. (NYSE:TPL) by 13.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 76,054 shares of the financial services provider’s stock after selling 11,739 shares during the quarter. California State Teachers Retirement System’s holdings in Texas Pacific Land were worth $84,113,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Texas Pacific Land by 108.3% during the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after buying an additional 13 shares in the last quarter. Assetmark Inc. acquired a new position in Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at about $31,000. TD Waterhouse Canada Inc. grew its position in shares of 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 buying an additional 15 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Texas Pacific Land in the fourth quarter valued at $66,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Micheal W. Dobbs sold 1,150 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was 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 of the company’s stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Chris Steddum sold 214 shares of the business’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 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 disclosure for this sale can be found here. Over the last ninety days, insiders bought 90 shares of company stock worth $117,505. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Up 1.3 %

Shares of TPL opened at $1,352.52 on Tuesday. The stock has a market cap of $31.09 billion, a P/E ratio of 68.59 and a beta of 1.44. The business’s fifty day moving average is $1,305.89 and its 200 day moving average is $1,297.85. Texas Pacific Land Co. has a 12-month low of $555.71 and a 12-month high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

About Texas Pacific Land

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.