Texas Pacific Land Co. (NYSE:TPL) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,501 shares of the financial services provider's stock after selling 929 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Texas Pacific Land worth $12,720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC raised its holdings in shares of Texas Pacific Land by 10.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 4,554 shares of the financial services provider's stock worth $5,036,000 after purchasing an additional 415 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Texas Pacific Land during the fourth quarter worth about $502,000. Coldstream Capital Management Inc. lifted its holdings in Texas Pacific Land by 26.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 301 shares of the financial services provider's stock worth $333,000 after acquiring an additional 63 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Texas Pacific Land by 11.3% during the fourth quarter. Voya Investment Management LLC now owns 11,446 shares of the financial services provider's stock valued at $12,659,000 after purchasing an additional 1,163 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in shares of Texas Pacific Land by 12.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,480 shares of the financial services provider's stock worth $2,742,000 after purchasing an additional 282 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

NYSE:TPL traded up $15.46 during midday trading on Friday, reaching $1,302.95. 83,041 shares of the company traded hands, compared to its average volume of 155,545. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 66.07 and a beta of 1.20. The company has a fifty day moving average price of $1,298.70 and a 200 day moving average price of $1,312.08. Texas Pacific Land Co. has a twelve month low of $578.56 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.60 dividend. The ex-dividend date is Monday, June 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. Texas Pacific Land's payout ratio is currently 32.45%.

Insider Activity

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of the business'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 transaction, the vice president now owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction on Friday, March 14th. The stock was 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 directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 100 shares of company stock valued at $130,700. 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.