Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 899 shares of the financial services provider’s stock after selling 55 shares during the quarter. Verus Capital Partners LLC’s holdings in Texas Pacific Land were worth $795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. Signaturefd LLC raised its position in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the period. First Financial Bankshares Inc lifted its position in Texas Pacific Land by 2.2% in the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after buying an additional 16 shares during the last quarter. BOKF NA boosted its stake in Texas Pacific Land by 1.1% during the second quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 17 shares during the period. CIBC Asset Management Inc increased its position in shares of Texas Pacific Land by 2.9% during the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 21 shares during the last quarter. Finally, Accordant Advisory Group Inc raised its stake in shares of Texas Pacific Land by 1.9% in the 2nd quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

NYSE TPL opened at $1,406.76 on Wednesday. The company has a market cap of $32.33 billion, a P/E ratio of 72.18 and a beta of 1.56. The stock has a 50-day moving average of $1,015.54 and a two-hundred day moving average of $831.46. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,421.22.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. 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 0.45%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. 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.