Stifel Financial Corp Decreases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Stifel Financial Corp trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,328 shares of the financial services provider's stock after selling 678 shares during the quarter. Stifel Financial Corp owned 0.05% of Texas Pacific Land worth $10,908,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hilltop Holdings Inc. lifted its holdings in Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider's stock valued at $1,606,000 after buying an additional 1,350 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Texas Pacific Land by 63.5% during the third quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider's stock valued at $2,634,000 after acquiring an additional 1,156 shares in the last quarter. Biltmore Family Office LLC purchased a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $337,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Texas Pacific Land by 56.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider's stock valued at $10,645,000 after purchasing an additional 5,255 shares during the period. Finally, Marietta Wealth Management LLC bought a new position in Texas Pacific Land in the second quarter worth approximately $2,926,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the business'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 value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company's stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired a total of 120 shares of company stock valued at $142,041 over the last three months. 6.50% of the stock is owned by company insiders.

Texas Pacific Land Stock Performance

NYSE TPL traded down $8.91 on Thursday, reaching $1,198.09. 257,138 shares of the stock traded hands, compared to its average volume of 131,910. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The company has a market cap of $27.53 billion, a price-to-earnings ratio of 61.47 and a beta of 1.62. The company has a fifty day moving average price of $1,270.33 and a 200-day moving average price of $958.35.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land's payout ratio is presently 32.84%.

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.