Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Texas Pacific Land Co. (NYSE:TPL) by 28.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,102 shares of the financial services provider’s stock after selling 18,217 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Texas Pacific Land worth $40,788,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land in the 3rd quarter valued at about $25,000. Compagnie Lombard Odier SCmA acquired a new stake in Texas Pacific Land during the third quarter valued at approximately $44,000. Quest Partners LLC bought a new stake in Texas Pacific Land during the third quarter worth approximately $50,000. Signaturefd LLC grew its position in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 13 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Texas Pacific Land by 880.0% in the third quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock valued at $87,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 0.6 %

TPL opened at $1,139.45 on Tuesday. The firm has a market cap of $26.18 billion, a PE ratio of 58.46 and a beta of 1.62. The business has a fifty day simple moving average of $1,291.48 and a 200-day simple moving average of $990.65. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.56%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s payout ratio is presently 32.84%.

Insider Buying and Selling

In other 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 transaction of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 108 shares of company stock valued at $132,491. Corporate 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.