Flow Traders U.S. LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 637 shares of the financial services provider's stock, valued at approximately $564,000.
Several other large investors also recently modified their holdings of TPL. Janus Henderson Group PLC grew its stake in shares of Texas Pacific Land by 199.4% during the first quarter. Janus Henderson Group PLC now owns 1,506 shares of the financial services provider's stock valued at $871,000 after acquiring an additional 1,003 shares in the last quarter. Comerica Bank grew its stake in Texas Pacific Land by 85.5% in the first quarter. Comerica Bank now owns 1,098 shares of the financial services provider's stock worth $635,000 after purchasing an additional 506 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Texas Pacific Land by 216.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,008 shares of the financial services provider's stock worth $571,000 after purchasing an additional 689 shares in the last quarter. CWM LLC grew its stake in Texas Pacific Land by 172.3% in the second quarter. CWM LLC now owns 384 shares of the financial services provider's stock worth $282,000 after purchasing an additional 243 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in Texas Pacific Land by 9.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 1,708 shares of the financial services provider's stock worth $1,254,000 after purchasing an additional 148 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CAO Stephanie Buffington sold 210 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This trade 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 is available through the SEC website. Over the last 90 days, insiders have acquired 117 shares of company stock valued at $134,923. Insiders own 6.50% of the company's stock.
Texas Pacific Land Trading Down 3.0 %
NYSE TPL traded down $41.28 during trading hours on Thursday, reaching $1,346.64. The company's stock had a trading volume of 213,157 shares, compared to its average volume of 130,295. The business has a 50-day simple moving average of $1,225.25 and a 200 day simple moving average of $932.52. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14. The stock has a market cap of $30.95 billion, a PE ratio of 71.21 and a beta of 1.62.
Texas Pacific Land Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's payout ratio is 32.84%.
Analysts Set New Price Targets
Separately, BWS Financial reiterated a "buy" rating and issued a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.
Check Out Our Latest Analysis on Texas Pacific Land
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.
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