Harvest Fund Management Co. Ltd Grows Position in Texas Pacific Land Co. (NYSE:TPL)

Harvest Fund Management Co. Ltd raised its position in Texas Pacific Land Co. (NYSE:TPL) by 158.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 517 shares of the financial services provider’s stock after acquiring an additional 317 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Texas Pacific Land were worth $457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth $25,000. American National Bank acquired a new stake in Texas Pacific Land in the second quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land during the 2nd quarter worth about $44,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth about $44,000. Finally, Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on Tuesday, November 12th. The shares were 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 directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders bought 114 shares of company stock worth $123,503. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,572.43 on Wednesday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of 80.68 and a beta of 1.56. The stock’s 50-day moving average is $1,135.75 and its two-hundred day moving average is $888.07.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. This is a positive change 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 0.41%. Texas Pacific Land’s payout ratio is 24.01%.

About Texas Pacific Land

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.