Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Commerce Bank

Commerce Bank reduced its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,375 shares of the financial services provider's stock after selling 355 shares during the quarter. Commerce Bank's holdings in Texas Pacific Land were worth $3,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TPL. Sei Investments Co. raised its position in Texas Pacific Land by 240.1% during the 1st quarter. Sei Investments Co. now owns 789 shares of the financial services provider's stock worth $456,000 after buying an additional 557 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Texas Pacific Land by 422.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,459 shares of the financial services provider's stock valued at $844,000 after purchasing an additional 1,180 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 96 shares in the last quarter. American International Group Inc. increased its position in Texas Pacific Land by 197.1% during the 1st quarter. American International Group Inc. now owns 309 shares of the financial services provider's stock worth $179,000 after purchasing an additional 205 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Texas Pacific Land by 207.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,030 shares of the financial services provider's stock worth $8,685,000 after buying an additional 10,143 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

TPL stock traded up $214.47 during trading on Friday, reaching $1,730.00. 735,871 shares of the company were exchanged, compared to its average volume of 107,785. The stock's 50 day moving average price is $1,120.26 and its 200 day moving average price is $878.83. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,749.44. The company has a market cap of $39.76 billion, a P/E ratio of 88.76 and a beta of 1.56.

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 issued a $1.60 dividend. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.37%. Texas Pacific Land's dividend payout ratio is 24.01%.

Analyst Ratings Changes

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

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now directly owns 584 shares of the company's stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought a total of 117 shares of company stock worth $123,524 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

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.