Texas Pacific Land Co. (NYSE:TPL) Stock Position Decreased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors and hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Texas Pacific Land by 19.9% during 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. Janney Montgomery Scott LLC raised 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 purchasing an additional 1,891 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Texas Pacific Land during the fourth quarter worth $380,000. Atria Wealth Solutions Inc. lifted its position in shares of Texas Pacific Land by 64.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,069 shares of the financial services provider's stock worth $1,182,000 after purchasing an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at $2,796,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL traded down $3.48 during trading hours on Friday, reaching $1,275.42. 84,591 shares of the stock traded hands, compared to its average volume of 158,186. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 64.68 and a beta of 1.20. The firm's fifty day simple moving average is $1,305.90 and its two-hundred day simple moving average is $1,325.96.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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 analysts' expectations 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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction on Thursday, March 13th. The shares were 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 $1,771,227.36. This represents a 45.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on Friday, March 14th. The stock was 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 represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 141 shares of company stock worth $187,715 in the last 90 days. 6.50% of the stock is owned by corporate 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.