Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lifted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,198 shares of the financial services provider's stock after purchasing an additional 3,363 shares during the quarter. Texas Pacific Land comprises approximately 1.7% of Douglass Winthrop Advisors LLC's investment portfolio, making the stock its 28th biggest position. Douglass Winthrop Advisors LLC owned 0.43% of Texas Pacific Land worth $87,764,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TPL. Capital Performance Advisors LLP purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $25,000. American National Bank purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth $44,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $44,000. Finally, Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $50,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Down 6.8 %

TPL traded down $116.90 during mid-day trading on Monday, hitting $1,613.10. 4,569,717 shares of the stock were exchanged, compared to its average volume of 126,163. The firm's fifty day moving average is $1,135.75 and its two-hundred day moving average is $888.07. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The company has a market cap of $37.06 billion, a PE ratio of 82.77 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. Investors of record on Monday, December 2nd will be paid a dividend of $1.60 per share. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.40%. Texas Pacific Land's dividend payout ratio is presently 32.84%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares of the company's stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 114 shares of company stock valued at $120,929. Corporate insiders own 6.50% of the company's stock.

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.