Hilltop Holdings Inc. Purchases 1,350 Shares of Texas Pacific Land Co. (NYSE:TPL)

Hilltop Holdings Inc. increased its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 290.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,815 shares of the financial services provider's stock after buying an additional 1,350 shares during the quarter. Hilltop Holdings Inc.'s holdings in Texas Pacific Land were worth $1,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of Texas Pacific Land by 199.4% in the first quarter. Janus Henderson Group PLC now owns 1,506 shares of the financial services provider's stock worth $871,000 after purchasing an additional 1,003 shares during the last quarter. Comerica Bank increased its position in shares of Texas Pacific Land by 85.5% in the first quarter. Comerica Bank now owns 1,098 shares of the financial services provider's stock worth $635,000 after purchasing an additional 506 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Texas Pacific Land by 216.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,008 shares of the financial services provider's stock worth $571,000 after purchasing an additional 689 shares during the last quarter. CWM LLC increased its position in shares of Texas Pacific Land by 172.3% in the second quarter. CWM LLC now owns 384 shares of the financial services provider's stock worth $282,000 after purchasing an additional 243 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in shares of Texas Pacific Land by 9.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 1,708 shares of the financial services provider's stock worth $1,254,000 after purchasing an additional 148 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the business's 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 transaction, the chief accounting officer now directly owns 584 shares of the company's stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 117 shares of company stock worth $132,677 in the last three months. 6.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Trading Down 11.6 %

NYSE:TPL traded down $182.01 during mid-day trading on Wednesday, reaching $1,387.92. The company's stock had a trading volume of 322,451 shares, compared to its average volume of 129,941. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The firm's fifty day moving average price is $1,216.05 and its two-hundred day moving average price is $929.31. The stock has a market cap of $31.89 billion, a P/E ratio of 75.42 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.60 per share. This is an increase 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 0.46%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land's payout ratio is currently 32.84%.

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.