Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,892 shares of the financial services provider’s stock after selling 91 shares during the period. Retirement Systems of Alabama owned approximately 0.10% of Texas Pacific Land worth $20,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land in the 3rd quarter worth about $25,000. American National Bank purchased a new stake in Texas Pacific Land during the 2nd quarter worth approximately $42,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land in the third quarter valued at approximately $44,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $50,000. Finally, Signaturefd LLC raised its stake in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders acquired 117 shares of company stock valued at $139,646. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 0.2 %

Shares of TPL opened at $1,198.97 on Friday. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14. The stock has a market cap of $27.55 billion, a PE ratio of 61.52 and a beta of 1.62. The firm’s fifty day moving average is $1,274.68 and its two-hundred day moving average is $964.84.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.53%. Texas Pacific Land’s payout ratio is presently 32.84%.

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.