1,100 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,100 shares of the financial services provider's stock, valued at approximately $973,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPL. Signaturefd LLC raised its position in Texas Pacific Land by 16.9% during the third 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. First Financial Bankshares Inc raised its position in Texas Pacific Land by 2.2% during the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. BOKF NA raised its position in Texas Pacific Land by 1.1% during the second quarter. BOKF NA now owns 1,571 shares of the financial services provider's stock valued at $1,154,000 after purchasing an additional 17 shares in the last quarter. CIBC Asset Management Inc raised its position in Texas Pacific Land by 2.9% during the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider's stock valued at $555,000 after purchasing an additional 21 shares in the last quarter. Finally, Accordant Advisory Group Inc raised its position in Texas Pacific Land by 1.9% during the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider's stock valued at $1,015,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.4 %

Shares of TPL traded down $5.22 during trading hours on Thursday, hitting $1,361.20. The company had a trading volume of 101,186 shares, compared to its average volume of 103,797. The firm has a market cap of $31.28 billion, a P/E ratio of 69.84 and a beta of 1.56. The stock's 50 day moving average price is $1,038.16 and its 200 day moving average price is $838.85. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,421.22.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's payout ratio is currently 24.01%.

Analysts Set New Price Targets

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

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the firm's 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 directly owns 584 shares of the company's stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have purchased 117 shares of company stock worth $118,351. Company insiders own 6.50% of the company's stock.

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.