Mutual of America Capital Management LLC Sells 7,930 Shares of Texas Pacific Land Co. (NYSE:TPL)

Mutual of America Capital Management LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 77.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,255 shares of the financial services provider’s stock after selling 7,930 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Texas Pacific Land were worth $2,494,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Texas Pacific Land by 3.8% in the 3rd 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 during the period. Geode Capital Management LLC boosted its stake in shares of Texas Pacific Land by 21.5% during the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the last quarter. Douglass Winthrop Advisors LLC raised its stake in Texas Pacific Land by 3.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock valued at $87,764,000 after acquiring an additional 3,363 shares during the period. Finally, York GP Ltd. acquired a new stake in Texas Pacific Land during the 4th quarter valued at $101,859,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,376.19 on Friday. Texas Pacific Land Co. has a one year low of $503.08 and a one year high of $1,769.14. The stock has a market cap of $31.63 billion, a price-to-earnings ratio of 69.79 and a beta of 1.69. The company has a fifty day moving average price of $1,321.43 and a two-hundred day moving average price of $1,183.82.

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

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

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.