Empirical Asset Management LLC Trims Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Empirical Asset Management LLC decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,408 shares of the financial services provider’s stock after selling 71 shares during the quarter. Empirical Asset Management LLC’s holdings in Texas Pacific Land were worth $2,663,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 2nd quarter valued at about $131,014,000. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after acquiring an additional 81,974 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Texas Pacific Land during the third quarter worth approximately $45,400,000. AQR Capital Management LLC grew its position in shares of Texas Pacific Land by 751.4% during the second quarter. AQR Capital Management LLC now owns 35,759 shares of the financial services provider’s stock worth $26,257,000 after acquiring an additional 31,559 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after acquiring an additional 27,884 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 84 shares of company stock worth $111,354 in the last quarter. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,409.30 on Friday. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The stock has a market cap of $32.39 billion, a P/E ratio of 72.31 and a beta of 1.68. The firm has a fifty day moving average price of $1,324.75 and a 200 day moving average price of $1,052.39.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

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.