Integrated Wealth Concepts LLC Grows Position in Texas Pacific Land Co. (NYSE:TPL)

Integrated Wealth Concepts LLC boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 27.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,198 shares of the financial services provider's stock after purchasing an additional 473 shares during the period. Integrated Wealth Concepts LLC's holdings in Texas Pacific Land were worth $1,945,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land during the third quarter worth $25,000. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land during the third quarter worth $44,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the third quarter worth $50,000. American National Bank acquired a new stake in shares of Texas Pacific Land in the second quarter valued at about $42,000. Finally, Signaturefd LLC increased its stake in shares of Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $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.

Analyst Ratings Changes

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

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $8.20 during midday trading on Friday, hitting $1,338.44. The company's stock had a trading volume of 185,831 shares, compared to its average volume of 410,428. The company has a market cap of $30.75 billion, a P/E ratio of 68.67 and a beta of 1.62. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The business's 50 day simple moving average is $1,243.78 and its 200 day simple moving average is $940.42.

Texas Pacific Land Increases Dividend

The business also recently announced 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 is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land's payout ratio is currently 32.84%.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of the firm's stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Insiders purchased 117 shares of company stock worth $134,923 over the last ninety days. Corporate insiders own 6.50% of the company's stock.

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.