Quantinno Capital Management LP Increases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Quantinno Capital Management LP boosted its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 63.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,976 shares of the financial services provider's stock after purchasing an additional 1,156 shares during the quarter. Quantinno Capital Management LP's holdings in Texas Pacific Land were worth $2,634,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TPL. Magnolia Capital Advisors LLC bought a new stake in Texas Pacific Land in the second quarter worth approximately $131,014,000. Bank of New York Mellon Corp increased its holdings in Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock worth $149,920,000 after purchasing an additional 86,975 shares in the last quarter. Principal Financial Group Inc. grew its stake in Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider's stock valued at $47,228,000 after acquiring an additional 60,400 shares during the period. International Assets Investment Management LLC acquired a new stake in Texas Pacific Land in the third quarter valued at approximately $45,400,000. Finally, Rhumbline Advisers grew its stake in Texas Pacific Land by 132.7% in the second quarter. Rhumbline Advisers now owns 61,532 shares of the financial services provider's stock valued at $45,181,000 after acquiring an additional 35,084 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded down $80.45 during mid-day trading on Wednesday, reaching $1,215.64. The stock had a trading volume of 144,159 shares, compared to its average volume of 130,846. 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's 50-day simple moving average is $1,260.26 and its 200-day simple moving average is $954.92. The firm has a market capitalization of $27.94 billion, a PE ratio of 66.60 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.53%. 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 dividend payout ratio (DPR) is 32.84%.

Insider Buying and Selling 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 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 Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 117 shares of company stock valued at $138,190. Company insiders own 6.50% of the company's stock.

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.