Balyasny Asset Management L.P. Sells 736 Shares of Texas Pacific Land Co. (NYSE:TPL)

Balyasny Asset Management L.P. lowered its stake in Texas Pacific Land Co. (NYSE:TPL) by 40.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,079 shares of the financial services provider’s stock after selling 736 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Texas Pacific Land were worth $1,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock worth $28,000 after buying an additional 13 shares during the period. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $29,000. Atala Financial Inc purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $31,000. TD Waterhouse Canada Inc. grew its position in shares of Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Texas Pacific Land during the fourth quarter worth about $66,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 3.0%

NYSE:TPL opened at $1,381.64 on Wednesday. Texas Pacific Land Co. has a 12-month low of $578.56 and a 12-month high of $1,769.14. The stock has a 50-day moving average price of $1,299.71 and a 200 day moving average price of $1,315.79. The stock has a market capitalization of $31.76 billion, a P/E ratio of 70.06 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The business had revenue of $195.98 million for the quarter, compared to analysts’ expectations of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio is currently 32.02%.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on 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 $4,601,592.98. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s 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 value 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. This represents a 45.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 104 shares of company stock worth $135,964. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land 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.