Charles Schwab Investment Management Inc. Raises Stake in Texas Pacific Land Co. (NYSE:TPL)

Charles Schwab Investment Management Inc. boosted its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 136,418 shares of the financial services provider’s stock after purchasing an additional 1,984 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Texas Pacific Land were worth $120,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at $25,000. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land in the third quarter valued at about $44,000. Quest Partners LLC purchased a new position in Texas Pacific Land in the third quarter valued at about $50,000. American National Bank acquired a new position in shares of Texas Pacific Land during the second quarter worth about $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land in the second quarter worth about $44,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Trading Down 6.8 %

TPL opened at $1,613.10 on Tuesday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The firm has a market cap of $37.06 billion, a price-to-earnings ratio of 82.77 and a beta of 1.56. The company has a fifty day simple moving average of $1,135.75 and a 200 day simple moving average of $888.07.

Texas Pacific Land Increases Dividend

The firm 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 dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.40%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s payout ratio is presently 32.84%.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have acquired 114 shares of company stock worth $120,929. 6.50% of the stock is currently owned by corporate insiders.

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.