Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 24.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,370 shares of the financial services provider’s stock after acquiring an additional 2,044 shares during the quarter. Cerity Partners LLC’s holdings in Texas Pacific Land were worth $9,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Biltmore Family Office LLC purchased a new stake in shares of Texas Pacific Land in the third quarter worth about $337,000. Citigroup Inc. lifted its position in Texas Pacific Land by 18.0% during the 3rd quarter. Citigroup Inc. now owns 24,318 shares of the financial services provider’s stock worth $21,515,000 after acquiring an additional 3,717 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after acquiring an additional 1,984 shares during the period. Pacer Advisors Inc. grew its position in Texas Pacific Land by 102.6% in the third quarter. Pacer Advisors Inc. now owns 10,313 shares of the financial services provider’s stock valued at $9,124,000 after acquiring an additional 5,223 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $395,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,572.43 on Wednesday. The stock has a market capitalization of $36.13 billion, a price-to-earnings ratio of 80.68 and a beta of 1.56. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The company’s 50-day simple moving average is $1,135.75 and its 200-day simple moving average is $888.07.

Texas Pacific Land Increases Dividend

The company 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 $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 annualized dividend and a dividend yield of 0.41%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 114 shares of company stock worth $123,503. 6.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.