Balyasny Asset Management L.P. Has $1.19 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Balyasny Asset Management L.P. reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 40.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,079 shares of the financial services provider's stock after selling 736 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Texas Pacific Land were worth $1,193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Texas Pacific Land by 6.1% in the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock valued at $17,600,000 after purchasing an additional 1,152 shares during the period. Czech National Bank bought a new position in shares of Texas Pacific Land in the fourth quarter valued at about $4,518,000. Wedmont Private Capital raised its position in shares of Texas Pacific Land by 16.8% in the fourth quarter. Wedmont Private Capital now owns 243 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 35 shares during the period. Crestmont Private Wealth LLC bought a new position in shares of Texas Pacific Land in the fourth quarter valued at about $206,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Texas Pacific Land by 26.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 474 shares of the financial services provider's stock valued at $524,000 after purchasing an additional 100 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Up 0.8%

Shares of TPL traded up $12.02 during trading hours on Friday, hitting $1,429.12. The company had a trading volume of 108,942 shares, compared to its average volume of 156,214. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 72.47 and a beta of 1.20. The business has a fifty day moving average of $1,303.87 and a 200-day moving average of $1,320.81. Texas Pacific Land Co. has a 12 month low of $578.56 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is 32.02%.

Insider Buying and Selling

In related news, CFO Chris Steddum sold 214 shares of the firm'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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 113 shares of company stock valued at $148,385. 6.50% of the stock is owned by company insiders.

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.