Texas Pacific Land Co. (NYSE:TPL) Holdings Cut by American Money Management LLC

American Money Management LLC cut its position in Texas Pacific Land Co. (NYSE:TPL) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,644 shares of the financial services provider’s stock after selling 382 shares during the quarter. Texas Pacific Land makes up approximately 2.5% of American Money Management LLC’s investment portfolio, making the stock its 8th largest holding. American Money Management LLC’s holdings in Texas Pacific Land were worth $12,878,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allstate Corp acquired a new position in Texas Pacific Land during the 4th quarter valued at approximately $630,000. Brown Brothers Harriman & Co. increased its position in shares of Texas Pacific Land by 1.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,154 shares of the financial services provider’s stock valued at $5,700,000 after acquiring an additional 51 shares during the period. DnB Asset Management AS lifted its position in Texas Pacific Land by 1.6% during the 4th quarter. DnB Asset Management AS now owns 3,741 shares of the financial services provider’s stock worth $4,137,000 after acquiring an additional 58 shares during the period. denkapparat Operations GmbH purchased a new stake in Texas Pacific Land during the 4th quarter valued at about $243,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Texas Pacific Land by 16.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,652 shares of the financial services provider’s stock valued at $8,463,000 after purchasing an additional 1,109 shares during the period. 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 stock has a market cap of $30.06 billion, a price-to-earnings ratio of 66.32 and a beta of 1.69. The business has a 50-day moving average price of $1,348.93 and a 200-day moving average price of $1,242.51.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The company 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The shares were 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 of the company’s stock, valued at approximately $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm’s 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 sale, 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 purchased 68 shares of company stock valued at $91,008. 6.50% of the stock is owned by company 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.