Ameriprise Financial Inc. Decreases Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Ameriprise Financial Inc. decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 66.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,734 shares of the financial services provider's stock after selling 18,879 shares during the quarter. Ameriprise Financial Inc.'s holdings in Texas Pacific Land were worth $10,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its stake in shares of Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after buying an additional 13 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $29,000. Atala Financial Inc acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $31,000. TD Waterhouse Canada Inc. grew its stake in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after buying an additional 15 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at $66,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. This trade represents a 45.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction 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 transaction, the chief financial officer now 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. Over the last three months, insiders purchased 141 shares of company stock worth $187,715. Company insiders own 6.50% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $74.95 during trading on Thursday, reaching $1,280.72. The stock had a trading volume of 154,281 shares, compared to its average volume of 157,508. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14. The business's 50-day moving average price is $1,308.35 and its 200-day moving average price is $1,325.33. The company has a market cap of $29.44 billion, a P/E ratio of 64.95 and a beta of 1.20.

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 analysts' consensus estimates 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 firm had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land's payout ratio is presently 32.02%.

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.