Virtu Financial LLC Sells 339 Shares of Texas Pacific Land Co. (NYSE:TPL)

Virtu Financial LLC lessened its position in Texas Pacific Land Co. (NYSE:TPL) by 63.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 199 shares of the financial services provider’s stock after selling 339 shares during the period. Virtu Financial LLC’s holdings in Texas Pacific Land were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPL. Hilltop Holdings Inc. lifted its position in shares of Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 1,350 shares during the last quarter. Quantinno Capital Management LP increased its position in Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after buying an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after buying an additional 431 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $641,000. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $8,545,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 68 shares of company stock worth $91,008. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,307.86 on Friday. The company has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. The firm has a fifty day moving average price of $1,348.93 and a two-hundred day moving average price of $1,239.36. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

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.