TIAA Trust National Association Trims Holdings in Texas Pacific Land Co. (NYSE:TPL)

TIAA Trust National Association decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,563 shares of the financial services provider’s stock after selling 416 shares during the period. TIAA Trust National Association owned 0.05% of Texas Pacific Land worth $12,788,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land in the third quarter worth about $50,000. Charles Schwab Investment Management Inc. increased its holdings in Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the period. Citigroup Inc. lifted its stake in Texas Pacific Land by 18.0% in the 3rd quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider’s stock worth $21,515,000 after purchasing an additional 3,717 shares in the last quarter. Cerity Partners LLC boosted its holdings in Texas Pacific Land by 24.5% in the 3rd quarter. Cerity Partners LLC now owns 10,370 shares of the financial services provider’s stock valued at $9,175,000 after purchasing an additional 2,044 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Texas Pacific Land by 14.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,547 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,363.79 on Wednesday. The stock has a market cap of $31.35 billion, a P/E ratio of 69.16 and a beta of 1.69. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The firm’s fifty day moving average price is $1,352.55 and its 200-day moving average price is $1,234.22.

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

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date 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 is presently 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the company’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 value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred 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 transaction, 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 59 shares of company stock valued at $78,629 in the last quarter. 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.