Pacer Advisors Inc. Raises Holdings in Texas Pacific Land Co. (NYSE:TPL)

Pacer Advisors Inc. increased its position in Texas Pacific Land Co. (NYSE:TPL) by 102.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,313 shares of the financial services provider’s stock after purchasing an additional 5,223 shares during the period. Pacer Advisors Inc.’s holdings in Texas Pacific Land were worth $9,124,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Texas Pacific Land by 56.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock worth $10,645,000 after acquiring an additional 5,255 shares during the period. Marietta Wealth Management LLC purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $2,926,000. O Shaughnessy Asset Management LLC increased its position in shares of Texas Pacific Land by 422.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,459 shares of the financial services provider’s stock valued at $844,000 after buying an additional 1,180 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in shares of Texas Pacific Land by 179.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 2,040 shares of the financial services provider’s stock worth $1,180,000 after buying an additional 1,309 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 valued at $6,298,000 after acquiring an additional 7,228 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 117 shares of company stock worth $123,524 over the last three months. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Up 14.2 %

Shares of NYSE TPL opened at $1,730.00 on Friday. The firm has a market capitalization of $39.76 billion, a P/E ratio of 88.76 and a beta of 1.56. The stock’s 50-day simple moving average is $1,120.26 and its two-hundred day simple moving average is $878.83. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,749.44.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued a $917.00 target price 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.