Erste Asset Management GmbH Acquires Shares of 380 Texas Pacific Land Co. (NYSE:TPL)

Erste Asset Management GmbH acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 380 shares of the financial services provider's stock, valued at approximately $337,000.

A number of other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $25,000. American National Bank purchased a new position in shares of Texas Pacific Land in the 2nd quarter valued at about $42,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $44,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Finally, Signaturefd LLC increased its stake 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 purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares of the company's stock, valued at approximately $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 117 shares of company stock valued at $134,923 over the last quarter. 6.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

TPL traded down $40.78 during trading hours on Thursday, reaching $1,347.15. The company's stock had a trading volume of 213,600 shares, compared to its average volume of 130,296. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The stock has a market cap of $30.96 billion, a PE ratio of 71.21 and a beta of 1.62. The business's 50-day moving average is $1,225.25 and its 200-day moving average is $932.52.

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 given 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 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land's payout ratio is presently 32.84%.

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.