Two Sigma Securities LLC Cuts Stake in Texas Pacific Land Co. (NYSE:TPL)

Two Sigma Securities LLC cut its holdings in Texas Pacific Land Co. (NYSE:TPL) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,326 shares of the financial services provider’s stock after selling 287 shares during the quarter. Two Sigma Securities LLC’s holdings in Texas Pacific Land were worth $1,467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPL. JPMorgan Chase & Co. raised its position in shares of Texas Pacific Land by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider’s stock worth $44,979,000 after acquiring an additional 6,747 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Texas Pacific Land in the fourth quarter valued at about $641,000. Miracle Mile Advisors LLC bought a new position in Texas Pacific Land in the fourth quarter worth about $8,545,000. Brave Asset Management Inc. lifted its position in shares of Texas Pacific Land by 87.1% during the fourth quarter. Brave Asset Management Inc. now owns 537 shares of the financial services provider’s stock valued at $594,000 after buying an additional 250 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Texas Pacific Land by 12.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider’s stock valued at $18,251,000 after buying an additional 1,891 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Transactions at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the business’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 directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. The trade was 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 this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the business’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 sale, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 88 shares of company stock worth $114,764. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 0.6 %

Shares of Texas Pacific Land stock opened at $1,338.21 on Friday. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The firm’s 50 day moving average price is $1,308.63 and its 200-day moving average price is $1,289.10. The company has a market cap of $30.76 billion, a P/E ratio of 67.86 and a beta of 1.44.

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

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Texas Pacific Land 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.