Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 21.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 462,518 shares of the financial services provider's stock after buying an additional 81,974 shares during the period. Geode Capital Management LLC owned about 2.01% of Texas Pacific Land worth $411,943,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land in the 3rd quarter worth $25,000. American National Bank purchased a new position in Texas Pacific Land in the 2nd quarter worth about $42,000. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land in the 3rd quarter worth about $44,000. Quest Partners LLC acquired a new stake in Texas Pacific Land during the 3rd quarter worth about $50,000. Finally, Signaturefd LLC lifted its stake 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 buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

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 completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 117 shares of company stock worth $139,646. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Up 0.2 %

Shares of Texas Pacific Land stock traded up $2.11 during trading on Friday, hitting $1,198.97. The stock had a trading volume of 125,654 shares, compared to its average volume of 131,884. The company has a market capitalization of $27.55 billion, a PE ratio of 61.52 and a beta of 1.62. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The stock has a 50 day simple moving average of $1,274.68 and a 200 day simple moving average of $964.84.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's dividend payout ratio (DPR) is 32.84%.

Texas Pacific Land 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.