Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC increased its stake in Texas Pacific Land Co. (NYSE:TPL) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,198 shares of the financial services provider’s stock after buying an additional 3,363 shares during the quarter. Texas Pacific Land comprises 1.7% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 28th largest position. Douglass Winthrop Advisors LLC’s holdings in Texas Pacific Land were worth $87,764,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the period. First Financial Bankshares Inc grew its holdings in Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. BOKF NA grew its holdings in Texas Pacific Land by 1.1% during the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock valued at $1,154,000 after purchasing an additional 17 shares in the last quarter. CIBC Asset Management Inc increased its stake in Texas Pacific Land by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock worth $555,000 after buying an additional 21 shares during the period. Finally, Accordant Advisory Group Inc lifted its holdings in 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 worth $1,015,000 after buying an additional 26 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 14.2 %

TPL stock opened at $1,730.00 on Monday. The firm has a 50 day simple moving average of $1,120.26 and a 200-day simple moving average of $881.05. The company has a market capitalization of $39.76 billion, a P/E ratio of 88.76 and a beta of 1.56. 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. Stockholders of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.37%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is presently 24.01%.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have purchased 114 shares of company stock worth $120,929. 6.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and set 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.