Zurcher Kantonalbank Zurich Cantonalbank Sells 1,901 Shares of Texas Pacific Land Co. (NYSE:TPL)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 33.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,858 shares of the financial services provider's stock after selling 1,901 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Texas Pacific Land were worth $3,413,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Texas Pacific Land by 197.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,885 shares of the financial services provider's stock worth $6,298,000 after acquiring an additional 7,228 shares during the period. Janus Henderson Group PLC increased its stake in shares of Texas Pacific Land by 199.4% during the first quarter. Janus Henderson Group PLC now owns 1,506 shares of the financial services provider's stock worth $871,000 after acquiring an additional 1,003 shares during the period. Comerica Bank increased its stake in Texas Pacific Land by 85.5% in the 1st quarter. Comerica Bank now owns 1,098 shares of the financial services provider's stock valued at $635,000 after purchasing an additional 506 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings 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 valued at $571,000 after purchasing an additional 689 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land during the 2nd quarter worth about $44,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company'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 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 represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have purchased 117 shares of company stock valued at $132,677. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Up 4.8 %

NYSE TPL traded up $71.74 during trading on Tuesday, reaching $1,572.09. The company's stock had a trading volume of 209,750 shares, compared to its average volume of 129,115. The business has a 50-day moving average price of $1,203.43 and a 200-day moving average price of $922.54. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The stock has a market capitalization of $36.13 billion, a PE ratio of 80.55 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. This is a boost 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 dividend yield of 0.41%. Texas Pacific Land's dividend payout ratio is currently 32.84%.

Wall Street Analyst Weigh In

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

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.