MML Investors Services LLC Has $1.42 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

MML Investors Services LLC lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,285 shares of the financial services provider's stock after selling 242 shares during the quarter. MML Investors Services LLC's holdings in Texas Pacific Land were worth $1,421,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TPL. Norinchukin Bank The purchased a new position in Texas Pacific Land in the fourth quarter valued at about $730,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Texas Pacific Land in the 4th quarter worth approximately $544,000. First Trust Advisors LP lifted its position in shares of Texas Pacific Land by 10.5% in the 4th quarter. First Trust Advisors LP now owns 90,152 shares of the financial services provider's stock worth $99,705,000 after buying an additional 8,593 shares during the last quarter. Farringdon Capital Ltd. bought a new stake in Texas Pacific Land in the fourth quarter valued at $426,000. Finally, NewEdge Advisors LLC increased its position in Texas Pacific Land by 58.6% in the 4th quarter. NewEdge Advisors LLC now owns 525 shares of the financial services provider's stock valued at $580,000 after acquiring an additional 194 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 0.6 %

TPL traded up $8.36 during trading on Tuesday, reaching $1,329.97. The stock had a trading volume of 21,828 shares, compared to its average volume of 154,030. Texas Pacific Land Co. has a 1-year low of $562.04 and a 1-year high of $1,769.14. The stock has a 50 day moving average of $1,303.45 and a two-hundred day moving average of $1,307.10. The firm has a market capitalization of $30.57 billion, a price-to-earnings ratio of 67.47 and a beta of 1.44.

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

Texas Pacific Land Dividend Announcement

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

Insider Activity

In related news, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now directly 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 document filed with the SEC, which is available at this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm's 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 sale, 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 ninety days, insiders have bought 96 shares of company stock worth $125,522. Company insiders own 6.50% of the company's stock.

About Texas Pacific Land

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.