Texas Pacific Land Co. (NYSE:TPL) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,260 shares of the financial services provider's stock after selling 485 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Texas Pacific Land were worth $2,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $25,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land during the third quarter worth about $44,000. Quest Partners LLC purchased a new position in Texas Pacific Land during the third quarter worth about $50,000. American National Bank acquired a new stake in Texas Pacific Land in the second quarter valued at about $42,000. Finally, Signaturefd LLC boosted its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company's stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased 117 shares of company stock worth $134,923 in the last ninety days. Insiders own 6.50% of the company's stock.

Texas Pacific Land Price Performance

Shares of TPL stock traded down $40.78 during midday trading on Thursday, reaching $1,347.15. 213,598 shares of the company traded hands, compared to its average volume of 130,296. The firm has a market cap of $30.96 billion, a PE ratio of 71.21 and a beta of 1.62. The firm's 50 day simple moving average is $1,225.25 and its two-hundred day simple moving average is $932.52. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, December 2nd. 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 dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio is currently 32.84%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a "buy" rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

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.