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

Empirical Asset Management LLC lessened its position in Texas Pacific Land Co. (NYSE:TPL) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its holdings in Texas Pacific Land by 12.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,137 shares of the financial services provider’s stock worth $831,000 after buying an additional 129 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Texas Pacific Land during the second quarter worth $1,466,000. Dimensional Fund Advisors LP raised its stake in shares of Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after acquiring an additional 9,878 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Texas Pacific Land in the second quarter valued at $296,000. Finally, Virtu Financial LLC acquired a new position in Texas Pacific Land during the 2nd quarter worth $849,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 84 shares of company stock worth $111,354 over the last 90 days. 6.50% of the stock is owned by insiders.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,409.30 on Friday. The stock’s 50-day moving average is $1,324.75 and its two-hundred day moving average is $1,052.39. The company has a market cap of $32.39 billion, a price-to-earnings ratio of 72.31 and a beta of 1.68. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $1.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio (DPR) is 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.