Waverton Investment Management Ltd Boosts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Waverton Investment Management Ltd lifted its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 18.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,166 shares of the financial services provider's stock after purchasing an additional 2,160 shares during the quarter. Waverton Investment Management Ltd owned 0.06% of Texas Pacific Land worth $12,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Texas Pacific Land during the third quarter worth $25,000. American National Bank purchased a new position in shares of Texas Pacific Land during the second quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land during the second quarter valued at $44,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land during the third quarter valued at $44,000. Finally, Signaturefd LLC increased its stake in shares of Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after buying an additional 13 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.5 %

Shares of Texas Pacific Land stock traded up $6.88 during trading on Tuesday, hitting $1,406.76. 92,700 shares of the stock traded hands, compared to its average volume of 103,852. The firm has a market cap of $32.32 billion, a P/E ratio of 71.94 and a beta of 1.56. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,421.22. The stock's fifty day simple moving average is $1,003.70 and its 200 day simple moving average is $825.75.

Texas Pacific Land Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's payout ratio is 32.84%.

Analyst Upgrades and Downgrades

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

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.