B. Metzler seel. Sohn & Co. Holding AG Takes $395,000 Position in Texas Pacific Land Co. (NYSE:TPL)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the third quarter, Holdings Channel.com reports. The fund acquired 447 shares of the financial services provider’s stock, valued at approximately $395,000.

Other large investors have also added to or reduced their stakes in the company. Magnolia Capital Advisors LLC bought a new stake in shares of Texas Pacific Land during the second quarter valued at about $131,014,000. Bank of New York Mellon Corp increased its holdings in Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after acquiring an additional 86,975 shares during the period. Principal Financial Group Inc. lifted its stake in Texas Pacific Land by 1,541.2% in the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after purchasing an additional 60,400 shares in the last quarter. International Assets Investment Management LLC bought a new position in Texas Pacific Land in the 3rd quarter valued at $45,400,000. Finally, California State Teachers Retirement System grew its position in shares of Texas Pacific Land by 244.2% during the 1st quarter. California State Teachers Retirement System now owns 58,383 shares of the financial services provider’s stock valued at $33,775,000 after purchasing an additional 41,422 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction on Tuesday, November 12th. The stock was 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 of the company’s stock, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have purchased 114 shares of company stock worth $120,929. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Trading Up 14.2 %

TPL stock opened at $1,730.00 on Monday. The company’s 50 day moving average is $1,120.26 and its 200 day moving average is $881.05. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 88.76 and a beta of 1.56. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,749.44.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.37%. Texas Pacific Land’s dividend payout ratio is presently 24.01%.

Analysts Set New Price Targets

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

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.