Dynamic Technology Lab Private Ltd Buys Shares of 343 Texas Pacific Land Co. (NYSE:TPL)

Dynamic Technology Lab Private Ltd purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 343 shares of the financial services provider's stock, valued at approximately $304,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land in the 3rd quarter worth approximately $25,000. American National Bank bought a new position in Texas Pacific Land during the second quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Texas Pacific Land in the second quarter worth $44,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land during the third quarter valued at $44,000. Finally, Quest Partners LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth $50,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE TPL traded down $101.70 during mid-day trading on Monday, hitting $1,496.69. The company had a trading volume of 230,227 shares, compared to its average volume of 128,768. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The stock has a market cap of $34.39 billion, a price-to-earnings ratio of 77.34 and a beta of 1.56. The firm's 50 day simple moving average is $1,192.55 and its two-hundred day simple moving average is $916.29.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, December 2nd. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's dividend payout ratio (DPR) is 24.01%.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer now directly owns 584 shares of the company's stock, valued at $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought a total of 117 shares of company stock valued at $130,685 in the last quarter. Company insiders own 6.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed 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 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.