UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 6,598 Shares of Texas Pacific Land Co. (NYSE:TPL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,836 shares of the financial services provider's stock after purchasing an additional 6,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Texas Pacific Land worth $62,671,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TPL. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land in the 3rd quarter valued at about $25,000. American National Bank acquired a new position in Texas Pacific Land in the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA acquired a new stake in Texas Pacific Land during the third quarter worth about $44,000. Finally, Quest Partners LLC bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth $50,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Price Performance

NYSE TPL traded up $71.74 during trading hours on Tuesday, reaching $1,572.09. 209,750 shares of the stock traded hands, compared to its average volume of 129,115. The company has a market cap of $36.13 billion, a price-to-earnings ratio of 80.55 and a beta of 1.62. The stock has a 50 day simple moving average of $1,203.43 and a two-hundred day simple moving average of $922.54. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm 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 $1.60 dividend. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.41%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.84%.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 transaction of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased a total of 117 shares of company stock valued at $132,677 over the last three months. Corporate insiders own 6.50% of the company's stock.

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.