Rhumbline Advisers Lowers Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Rhumbline Advisers trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 34.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,673 shares of the financial services provider’s stock after selling 20,116 shares during the period. Rhumbline Advisers’ holdings in Texas Pacific Land were worth $42,771,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Blue Trust Inc. raised its position in Texas Pacific Land by 40.2% in the fourth quarter. Blue Trust Inc. now owns 26,881 shares of the financial services provider’s stock worth $29,729,000 after acquiring an additional 7,705 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at about $9,069,000. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $10,934,000. V Square Quantitative Management LLC acquired a new position in Texas Pacific Land during the fourth quarter worth about $195,000. Finally, Asset Management One Co. Ltd. increased its holdings in Texas Pacific Land by 5.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,477 shares of the financial services provider’s stock valued at $8,562,000 after buying an additional 392 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,372.41 on Tuesday. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of 70.42 and a beta of 1.68. The business’s 50 day simple moving average is $1,272.83 and its 200-day simple moving average is $1,138.03. Texas Pacific Land Co. has a 12 month low of $489.47 and a 12 month high of $1,769.14.

Texas Pacific Land Company 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.