Mutual of America Capital Management LLC Lowers Holdings in Texas Pacific Land Co. (NYSE:TPL)

Mutual of America Capital Management LLC lessened its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,185 shares of the financial services provider's stock after selling 475 shares during the quarter. Mutual of America Capital Management LLC's holdings in Texas Pacific Land were worth $9,011,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TPL. Signaturefd LLC boosted its stake in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after buying an additional 13 shares during the last quarter. First Financial Bankshares Inc raised its holdings in Texas Pacific Land by 2.2% in the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock worth $667,000 after purchasing an additional 16 shares during the period. BOKF NA raised its holdings 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 worth $1,154,000 after purchasing an additional 17 shares during the period. CIBC Asset Management Inc raised 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 purchasing an additional 21 shares during the period. Finally, Accordant Advisory Group Inc raised its holdings in Texas Pacific Land by 1.9% in the 2nd quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider's stock worth $1,015,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the 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 value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares of the company's stock, 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 can be accessed through this link. Insiders bought 117 shares of company stock valued at $119,938 over the last quarter. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Up 2.9 %

Shares of Texas Pacific Land stock traded up $38.81 during mid-day trading on Monday, reaching $1,398.75. 83,398 shares of the stock traded hands, compared to its average volume of 103,523. The business has a 50-day moving average of $1,049.39 and a 200 day moving average of $848.01. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,421.22. The stock has a market capitalization of $32.14 billion, a PE ratio of 69.78 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's dividend payout ratio is presently 24.01%.

Wall Street Analysts Forecast Growth

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

About Texas Pacific Land

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.