Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Mad River Investors

Mad River Investors cut its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,938 shares of the financial services provider’s stock after selling 1,840 shares during the period. Texas Pacific Land makes up about 49.3% of Mad River Investors’ holdings, making the stock its biggest position. Mad River Investors owned 0.42% of Texas Pacific Land worth $106,103,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Magnolia Capital Advisors LLC bought a new stake in Texas Pacific Land in the second quarter worth $131,014,000. Geode Capital Management LLC lifted its position in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after buying an additional 81,974 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Texas Pacific Land during the 3rd quarter valued at about $45,400,000. AQR Capital Management LLC boosted its position in Texas Pacific Land by 751.4% during the second quarter. AQR Capital Management LLC now owns 35,759 shares of the financial services provider’s stock worth $26,257,000 after purchasing an additional 31,559 shares during the period. Finally, State Street Corp raised its position in shares of Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the transaction, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 81 shares of company stock valued at $108,145 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Up 1.2 %

NYSE:TPL opened at $1,409.30 on Tuesday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The firm’s fifty day simple moving average is $1,324.97 and its 200 day simple moving average is $1,061.41. The firm has a market capitalization of $32.39 billion, a PE ratio of 72.31 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

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.