MML Investors Services LLC Grows Holdings in Texas Pacific Land Co. (NYSE:TPL)

MML Investors Services LLC boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 175.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,527 shares of the financial services provider's stock after acquiring an additional 973 shares during the quarter. MML Investors Services LLC's holdings in Texas Pacific Land were worth $1,351,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC grew its position in shares of Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 13 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock worth $390,000 after buying an additional 13 shares during the period. First Financial Bankshares Inc lifted its position in shares of Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after buying an additional 16 shares in the last quarter. BOKF NA grew its stake in Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider's stock valued at $1,154,000 after acquiring an additional 17 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Texas Pacific Land by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider's stock worth $555,000 after acquiring an additional 21 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 1.6 %

Shares of NYSE TPL traded down $18.13 during trading on Thursday, hitting $1,096.33. The company had a trading volume of 179,566 shares, compared to its average volume of 132,818. 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 fifty day simple moving average of $1,288.56 and a two-hundred day simple moving average of $977.54. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 56.25 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $1.60 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.58%. Texas Pacific Land's payout ratio is currently 32.84%.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 transaction, the chief accounting officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 113 shares of company stock valued at $136,949. 6.50% of the stock is owned by insiders.

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.