Tidal Investments LLC grew its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 143.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,319 shares of the financial services provider's stock after acquiring an additional 3,137 shares during the quarter. Tidal Investments LLC's holdings in Texas Pacific Land were worth $4,706,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its position in Texas Pacific Land by 17.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 6,050 shares of the financial services provider's stock valued at $5,353,000 after purchasing an additional 915 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at about $211,000. Geode Capital Management LLC lifted its holdings in shares of Texas Pacific Land by 21.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider's stock valued at $411,943,000 after acquiring an additional 81,974 shares during the last quarter. M&T Bank Corp grew its position in Texas Pacific Land by 6.2% in the third quarter. M&T Bank Corp now owns 922 shares of the financial services provider's stock worth $815,000 after acquiring an additional 54 shares in the last quarter. Finally, Barclays PLC increased its stake in Texas Pacific Land by 6.1% during the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock worth $17,600,000 after acquiring an additional 1,152 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
Insider Activity 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 transaction, the chief accounting officer now owns 584 shares of the company's stock, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 117 shares of company stock worth $139,646. Insiders own 6.50% of the company's stock.
Texas Pacific Land Price Performance
Shares of NYSE:TPL traded up $2.11 during trading on Friday, hitting $1,198.97. The company had a trading volume of 125,654 shares, compared to its average volume of 131,884. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 61.52 and a beta of 1.62. The company has a fifty day simple moving average of $1,274.68 and a two-hundred day simple moving average of $962.43. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14.
Texas Pacific Land Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.60 per share. 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. Texas Pacific Land's payout ratio is currently 32.84%.
About Texas Pacific Land
(
Free Report)
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.
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