Integrated Wealth Concepts LLC Raises Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Integrated Wealth Concepts LLC raised its stake in Texas Pacific Land Co. (NYSE:TPL) by 27.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,198 shares of the financial services provider’s stock after buying an additional 473 shares during the period. Integrated Wealth Concepts LLC’s holdings in Texas Pacific Land were worth $1,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TPL. Capital Performance Advisors LLP purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $25,000. American National Bank purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $42,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $44,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth approximately $50,000. Finally, Signaturefd LLC increased its stake in shares of Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

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 note on Monday, August 12th.

Insiders Place Their Bets

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 owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 117 shares of company stock valued at $134,923. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

TPL stock opened at $1,340.14 on Friday. The stock has a market capitalization of $30.80 billion, a P/E ratio of 68.76 and a beta of 1.62. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The company has a 50 day moving average price of $1,243.78 and a two-hundred day moving average price of $940.42.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.60 dividend. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s payout ratio is presently 32.84%.

Texas Pacific Land 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.