Texas Pacific Land Co. (NYSE:TPL) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,045 shares of the financial services provider's stock after selling 13,462 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.05% of Texas Pacific Land worth $13,319,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Texas Pacific Land by 19.9% during the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after purchasing an additional 6,747 shares during the period. Everence Capital Management Inc. purchased a new stake in Texas Pacific Land during the 4th quarter worth $641,000. Miracle Mile Advisors LLC acquired a new position in Texas Pacific Land in the 4th quarter worth $8,545,000. Brave Asset Management Inc. boosted its position in Texas Pacific Land by 87.1% in the 4th 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 grew its stake in shares of Texas Pacific Land by 12.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,502 shares of the financial services provider's stock valued at $18,251,000 after acquiring an additional 1,891 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $2.06 during trading on Friday, hitting $1,333.73. The company's stock had a trading volume of 55,700 shares, compared to its average volume of 153,974. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14. The stock's 50-day moving average price is $1,306.98 and its two-hundred day moving average price is $1,291.60. The company has a market capitalization of $30.66 billion, a PE ratio of 67.63 and a beta of 1.44.

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

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on 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 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 available at the SEC website. Also, CFO Chris Steddum sold 214 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares of the company's stock, valued at $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. Over the last 90 days, insiders have purchased 88 shares of company stock valued at $114,764. Insiders own 6.50% of the company's stock.

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.