Fmr LLC Increases Holdings in Texas Pacific Land Co. (NYSE:TPL)

Fmr LLC boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 41.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,525 shares of the financial services provider’s stock after buying an additional 740 shares during the period. Fmr LLC’s holdings in Texas Pacific Land were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in Texas Pacific Land by 2.2% during the third quarter. Bank of Montreal Can now owns 6,561 shares of the financial services provider’s stock worth $5,820,000 after buying an additional 142 shares during the period. Independent Advisor Alliance lifted its holdings in Texas Pacific Land by 1.4% during the third quarter. Independent Advisor Alliance now owns 3,627 shares of the financial services provider’s stock worth $3,209,000 after buying an additional 50 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Texas Pacific Land by 158.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 517 shares of the financial services provider’s stock worth $457,000 after buying an additional 317 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Texas Pacific Land during the third quarter worth $304,000. Finally, Douglass Winthrop Advisors LLC lifted its holdings in Texas Pacific Land by 3.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock worth $87,764,000 after buying an additional 3,363 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 0.2 %

Texas Pacific Land stock opened at $1,198.97 on Friday. The business has a fifty day moving average of $1,274.68 and a two-hundred day moving average of $964.84. The firm has a market cap of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have purchased 117 shares of company stock valued at $139,646. Company 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.