Public Employees Retirement System of Ohio Trims Holdings in Texas Pacific Land Co. (NYSE:TPL)

Public Employees Retirement System of Ohio lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,880 shares of the financial services provider’s stock after selling 331 shares during the period. Public Employees Retirement System of Ohio’s holdings in Texas Pacific Land were worth $6,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Texas Pacific Land by 2.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 43,671 shares of the financial services provider’s stock valued at $32,066,000 after buying an additional 1,071 shares in the last quarter. Marietta Wealth Management LLC purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $2,926,000. MONECO Advisors LLC acquired a new stake in shares of Texas Pacific Land during the second quarter worth about $245,000. Nisa Investment Advisors LLC lifted its position in shares of Texas Pacific Land by 505.7% during the second quarter. Nisa Investment Advisors LLC now owns 3,743 shares of the financial services provider’s stock worth $2,748,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Texas Pacific Land during the second quarter worth about $408,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,198.97 on Friday. The stock has a market capitalization of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The company has a 50 day moving average price of $1,274.68 and a 200 day moving average price of $962.43.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 117 shares of company stock worth $139,646. Company insiders own 6.50% of the company’s stock.

About Texas Pacific Land

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.