Sentry Investment Management LLC Has $81,000 Holdings in Texas Pacific Land Co. (NYSE:TPL)

Sentry Investment Management LLC cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 22.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61 shares of the financial services provider’s stock after selling 18 shares during the period. Sentry Investment Management LLC’s holdings in Texas Pacific Land were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. NBC Securities Inc. acquired a new stake in shares of Texas Pacific Land during the first quarter worth about $920,000. Gunderson Capital Management Inc. bought a new stake in Texas Pacific Land during the 1st quarter worth approximately $8,514,000. Czech National Bank raised its holdings in Texas Pacific Land by 5.9% during the 1st quarter. Czech National Bank now owns 4,327 shares of the financial services provider’s stock worth $5,733,000 after buying an additional 242 shares during the period. Rhumbline Advisers raised its holdings in Texas Pacific Land by 10.3% during the 1st quarter. Rhumbline Advisers now owns 42,642 shares of the financial services provider’s stock worth $56,500,000 after buying an additional 3,969 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Texas Pacific Land by 10.6% in the first quarter. Parallel Advisors LLC now owns 178 shares of the financial services provider’s stock valued at $236,000 after buying an additional 17 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 2.0%

Texas Pacific Land stock opened at $1,104.17 on Thursday. The company has a 50 day moving average of $1,279.08 and a 200-day moving average of $1,315.48. Texas Pacific Land Co. has a twelve month low of $581.55 and a twelve month high of $1,769.14. The stock has a market capitalization of $25.38 billion, a PE ratio of 55.99 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The company 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio is presently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This trade represents a 45.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 169 shares of company stock worth $220,669. Corporate insiders own 6.50% of the company’s stock.

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.