Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Lagoda Investment Management L.P.

Lagoda Investment Management L.P. decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,293 shares of the financial services provider's stock after selling 5,009 shares during the period. Texas Pacific Land accounts for about 20.5% of Lagoda Investment Management L.P.'s investment portfolio, making the stock its largest holding. Lagoda Investment Management L.P. owned 0.15% of Texas Pacific Land worth $37,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TPL. Investment Management Corp of Ontario raised its stake in shares of Texas Pacific Land by 51.8% in the 4th quarter. Investment Management Corp of Ontario now owns 973 shares of the financial services provider's stock worth $1,076,000 after buying an additional 332 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Texas Pacific Land by 21.3% during the fourth quarter. Janus Henderson Group PLC now owns 1,815 shares of the financial services provider's stock valued at $2,010,000 after buying an additional 319 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in Texas Pacific Land by 55.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 526 shares of the financial services provider's stock worth $582,000 after acquiring an additional 188 shares during the period. Gotham Asset Management LLC raised its position in Texas Pacific Land by 212.9% in the fourth quarter. Gotham Asset Management LLC now owns 5,716 shares of the financial services provider's stock worth $6,322,000 after acquiring an additional 3,889 shares in the last quarter. Finally, Focus Partners Wealth raised its position in Texas Pacific Land by 0.6% in the fourth quarter. Focus Partners Wealth now owns 23,648 shares of the financial services provider's stock worth $26,155,000 after acquiring an additional 137 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $11.24 during trading hours on Thursday, hitting $1,417.16. 128,682 shares of the company's stock traded hands, compared to its average volume of 155,690. The company's fifty day simple moving average is $1,300.16 and its two-hundred day simple moving average is $1,316.36. The company has a market cap of $32.58 billion, a price-to-earnings ratio of 71.86 and a beta of 1.20. Texas Pacific Land Co. has a 52 week low of $578.56 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results 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). The business had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The business also recently announced 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 dividend yield of 0.45%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land's payout ratio is 32.02%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 114 shares of company stock valued at $149,744 over the last three months. 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.