Glenmede Trust Co. NA Acquires 13 Shares of Texas Pacific Land Co. (NYSE:TPL)

Glenmede Trust Co. NA boosted its stake in Texas Pacific Land Co. (NYSE:TPL) by 3.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 441 shares of the financial services provider’s stock after acquiring an additional 13 shares during the quarter. Glenmede Trust Co. NA’s holdings in Texas Pacific Land were worth $390,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TPL. Capital Performance Advisors LLP bought a new stake in Texas Pacific Land in the 3rd quarter valued at $25,000. American National Bank bought a new stake in Texas Pacific Land in the 2nd quarter valued at $42,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land in the 3rd quarter valued at $44,000. Quest Partners LLC bought a new stake in Texas Pacific Land in the 3rd quarter valued at $50,000. Finally, Signaturefd LLC lifted its position in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Down 11.6 %

Shares of TPL stock opened at $1,387.92 on Thursday. The company’s fifty day simple moving average is $1,216.05 and its 200-day simple moving average is $929.31. The firm has a market cap of $31.89 billion, a PE ratio of 75.42 and a beta of 1.62. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

Analysts Set New Price Targets

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

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have purchased a total of 114 shares of company stock worth $130,247 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.

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.