Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 32.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,159 shares of the financial services provider’s stock after selling 4,004 shares during the quarter. Jane Street Group LLC’s holdings in Texas Pacific Land were worth $7,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Magnolia Capital Advisors LLC acquired a new position in Texas Pacific Land in the second quarter valued at $131,014,000. Bank of New York Mellon Corp increased its holdings in Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after purchasing an additional 86,975 shares in the last quarter. Principal Financial Group Inc. raised its position in Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock valued at $47,228,000 after purchasing an additional 60,400 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Texas Pacific Land in the third quarter worth about $45,400,000. Finally, Rhumbline Advisers boosted its stake in shares of Texas Pacific Land by 132.7% in the second quarter. Rhumbline Advisers now owns 61,532 shares of the financial services provider’s stock valued at $45,181,000 after purchasing an additional 35,084 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders bought 117 shares of company stock valued at $139,646 in the last ninety days. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,198.97 on Friday. The firm has a market cap of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The firm has a fifty day moving average of $1,274.68 and a two-hundred day moving average of $964.84.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.53%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

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.