Maryland State Retirement & Pension System Lowers Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Maryland State Retirement & Pension System cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 3.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,039 shares of the financial services provider’s stock after selling 34 shares during the period. Maryland State Retirement & Pension System’s holdings in Texas Pacific Land were worth $1,149,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hilltop Holdings Inc. grew its stake in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 1,350 shares during the period. Quantinno Capital Management LP boosted its position in Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Texas Pacific Land by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after purchasing an additional 431 shares during the period. Everence Capital Management Inc. purchased a new stake in Texas Pacific Land during the 4th quarter worth $641,000. Finally, Miracle Mile Advisors LLC purchased a new stake in Texas Pacific Land during the 4th quarter worth $8,545,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 7.0 %

Shares of Texas Pacific Land stock opened at $1,275.33 on Friday. The company has a fifty day moving average price of $1,350.80 and a 200 day moving average price of $1,223.39. Texas Pacific Land Co. has a twelve month low of $555.71 and a twelve month high of $1,769.14. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced 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 net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 57 shares of company stock valued at $75,675 in the last ninety days. Insiders own 6.50% of the company’s stock.

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.