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Northwestern Mutual Wealth Management Co. Has $107,000 Holdings in Texas Pacific Land Co. (NYSE:TPL)

Northwestern Mutual Wealth Management Co. lessened its position in shares of Texas Pacific Land Co. (NYSE:TPLGet Rating) by 66.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 79 shares of the financial services provider’s stock after selling 159 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Texas Pacific Land were worth $107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Texas Pacific Land by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 75,680 shares of the financial services provider’s stock worth $94,514,000 after buying an additional 5,785 shares during the period. Northern Trust Corp grew its position in shares of Texas Pacific Land by 12.4% during the 4th quarter. Northern Trust Corp now owns 60,288 shares of the financial services provider’s stock worth $75,292,000 after buying an additional 6,656 shares during the period. Charles Schwab Investment Management Inc. grew its position in Texas Pacific Land by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,259 shares of the financial services provider’s stock valued at $41,537,000 after purchasing an additional 784 shares during the period. Bank of America Corp DE grew its position in Texas Pacific Land by 4.8% in the 4th quarter. Bank of America Corp DE now owns 20,705 shares of the financial services provider’s stock valued at $25,857,000 after purchasing an additional 956 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Texas Pacific Land by 24.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,956 shares of the financial services provider’s stock valued at $22,424,000 after purchasing an additional 3,507 shares during the period. Institutional investors and hedge funds own 56.25% of the company’s stock.

Texas Pacific Land Trading Up 2.7 %

NYSE TPL opened at $1,834.28 on Friday. The company has a fifty day simple moving average of $1,664.36 and a 200 day simple moving average of $1,472.92. Texas Pacific Land Co. has a 12-month low of $946.29 and a 12-month high of $1,886.04. The company has a market cap of $14.16 billion, a P/E ratio of 37.40 and a beta of 2.00.

Texas Pacific Land Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, September 7th. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.47%.

Texas Pacific Land Profile

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Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company’s Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds own 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 located in the western part of Texas.

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