Texas Pacific Land Co. (NYSE:TPL) Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. lessened its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,328 shares of the financial services provider's stock after selling 2,216 shares during the quarter. Texas Pacific Land accounts for 9.7% of First Dallas Securities Inc.'s investment portfolio, making the stock its 2nd biggest position. First Dallas Securities Inc. owned 0.11% of Texas Pacific Land worth $23,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $25,000. American National Bank acquired a new stake in shares of Texas Pacific Land during the second quarter valued at about $42,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Texas Pacific Land during the third quarter valued at about $44,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter worth about $50,000. Finally, Signaturefd LLC lifted its stake in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 2.3 %

Texas Pacific Land stock traded down $30.95 during midday trading on Tuesday, hitting $1,296.09. The stock had a trading volume of 134,509 shares, compared to its average volume of 130,721. The business has a fifty day moving average price of $1,252.58 and a 200 day moving average price of $950.08. 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 $29.78 billion, a P/E ratio of 67.96 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's payout ratio is currently 32.84%.

Analyst Ratings Changes

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

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the business's 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 transaction of $291,549.30. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired a total of 120 shares of company stock worth $140,554 over the last 90 days. 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.