RiverPark Advisors LLC Acquires 50 Shares of Texas Pacific Land Co. (NYSE:TPL)

RiverPark Advisors LLC increased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 6.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 787 shares of the financial services provider’s stock after purchasing an additional 50 shares during the period. RiverPark Advisors LLC’s holdings in Texas Pacific Land were worth $696,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TPL. Capital Performance Advisors LLP bought a new stake in Texas Pacific Land during the third quarter valued at $25,000. American National Bank bought a new stake in Texas Pacific Land during the second quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land during the second quarter valued at $44,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land during the third quarter valued at $44,000. Finally, Signaturefd LLC boosted its position in 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 acquiring an additional 13 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,359.94 on Friday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,421.22. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 69.78 and a beta of 1.56. The firm’s 50-day simple moving average is $1,049.39 and its 200 day simple moving average is $845.98.

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 given a $1.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.01%.

Wall Street Analyst Weigh In

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

Insider Activity at Texas Pacific Land

In other Texas Pacific Land 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 transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have acquired 117 shares of company stock valued at $118,351. 6.50% of the stock is owned by corporate insiders.

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.