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EP Wealth Advisors LLC Acquires Shares of 1,017 Texas Pacific Land Co. (NYSE:TPL)

Texas Pacific Land logo with Oils/Energy background

EP Wealth Advisors LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,017 shares of the financial services provider's stock, valued at approximately $900,000.

Several other large investors have also bought and sold shares of TPL. Signaturefd LLC grew its position in shares of 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 acquiring an additional 13 shares during the period. Glenmede Trust Co. NA raised its position in shares of Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock valued at $390,000 after buying an additional 13 shares in the last quarter. First Financial Bankshares Inc grew its holdings in shares of Texas Pacific Land by 2.2% during the 3rd 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 during the last quarter. BOKF NA grew its holdings in shares of Texas Pacific Land by 1.1% during the 2nd 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 during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Texas Pacific Land by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider's stock worth $555,000 after acquiring an additional 21 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $90.15 during midday trading on Wednesday, reaching $1,205.94. The stock had a trading volume of 266,975 shares, compared to its average volume of 131,386. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The company's 50 day moving average price is $1,260.26 and its 200 day moving average price is $954.92. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 66.60 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. 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 dividend yield of 0.53%. Texas Pacific Land's dividend payout ratio is presently 32.84%.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on 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 sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders purchased 117 shares of company stock worth $138,190. 6.50% of the stock is owned by company insiders.

About Texas Pacific Land

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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