Jane Street Group LLC Has $7.22 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Jane Street Group LLC lowered its stake in Texas Pacific Land Co. (NYSE:TPL) by 32.9% during the third quarter, HoldingsChannel reports. The firm owned 8,159 shares of the financial services provider’s stock after selling 4,004 shares during the period. Jane Street Group LLC’s holdings in Texas Pacific Land were worth $7,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land during the second quarter valued at approximately $131,014,000. Bank of New York Mellon Corp lifted its stake in Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after acquiring an additional 86,975 shares in the last quarter. Principal Financial Group Inc. boosted its position in Texas Pacific Land by 1,541.2% during the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after acquiring an additional 60,400 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth approximately $45,400,000. Finally, Rhumbline Advisers grew its position in Texas Pacific Land by 132.7% during the second quarter. Rhumbline Advisers now owns 61,532 shares of the financial services provider’s stock valued at $45,181,000 after purchasing an additional 35,084 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 117 shares of company stock worth $139,646 in the last three months. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Up 0.2 %

TPL stock opened at $1,198.97 on Friday. The company has a 50 day moving average of $1,274.68 and a two-hundred day moving average of $964.84. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The company has a market cap of $27.55 billion, a price-to-earnings ratio of 61.52 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is presently 32.84%.

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.