Texas Pacific Land Co. (NYSE:TPL) is American Money Management LLC’s 8th Largest Position

American Money Management LLC decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,644 shares of the financial services provider’s stock after selling 382 shares during the quarter. Texas Pacific Land comprises about 2.5% of American Money Management LLC’s investment portfolio, making the stock its 8th largest position. American Money Management LLC owned about 0.05% of Texas Pacific Land worth $12,878,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Daiwa Securities Group Inc. lifted its stake in shares of Texas Pacific Land by 14.8% in 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 during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $304,000. Bank of Montreal Can raised its holdings in Texas Pacific Land by 2.2% during the 3rd quarter. Bank of Montreal Can now owns 6,561 shares of the financial services provider’s stock valued at $5,820,000 after buying an additional 142 shares during the period. Finally, FMR LLC lifted its position in Texas Pacific Land by 41.5% in the third quarter. FMR LLC now owns 2,525 shares of the financial services provider’s stock worth $2,234,000 after buying an additional 740 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 1.8 %

TPL stock opened at $1,307.86 on Friday. 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 capitalization of $30.06 billion, a price-to-earnings ratio of 66.32 and a beta of 1.69. The firm’s fifty day simple moving average is $1,348.93 and its two-hundred day simple moving average is $1,242.51.

Texas Pacific Land (NYSE:TPL) last issued 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 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 paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend 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 Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Chris Steddum sold 214 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 68 shares of company stock worth $91,008 in the last quarter. 6.50% of the stock is owned by company insiders.

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.