JPMorgan Chase & Co. Has $30.01 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

JPMorgan Chase & Co. decreased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 55.4% during the third quarter, Holdings Channel.com reports. The firm owned 33,923 shares of the financial services provider’s stock after selling 42,166 shares during the period. JPMorgan Chase & Co.’s holdings in Texas Pacific Land were worth $30,013,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’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 owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 92 shares of company stock worth $118,601 over the last ninety days. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

TPL opened at $1,262.25 on Wednesday. The company has a market capitalization of $29.00 billion, a PE ratio of 64.76 and a beta of 1.68. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The business has a 50-day moving average of $1,311.18 and a 200-day moving average of $1,023.35.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $1.60 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.51%. Texas Pacific Land’s payout ratio is 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.