Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 11,969 shares of the financial services provider’s stock after selling 1,260 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Texas Pacific Land were worth $13,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after buying an additional 260,278 shares during the last quarter. York GP Ltd. purchased a new stake in Texas Pacific Land during the 4th quarter valued at about $101,859,000. Geode Capital Management LLC grew its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Pacific Land by 31.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after purchasing an additional 43,217 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth about $41,303,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 1.8 %

Shares of NYSE TPL opened at $1,307.86 on Friday. Texas Pacific Land Co. has a 52 week low of $555.71 and a 52 week high of $1,769.14. The firm has a market cap of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69. The business’s 50 day moving average price is $1,348.93 and its 200 day moving average price is $1,239.36.

Texas Pacific Land (NYSE:TPL) last released 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 net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.60 dividend. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 3,502 shares in the company, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now directly owns 1,393 shares in the company, valued at $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 have purchased 68 shares of company stock worth $91,008 over the last quarter. 6.50% of the stock is currently owned by insiders.

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.