Texas Pacific Land Co. (NYSE:TPL) Stock Position Increased by Hilltop Holdings Inc.

Hilltop Holdings Inc. lifted its position in Texas Pacific Land Co. (NYSE:TPL) by 290.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,815 shares of the financial services provider’s stock after buying an additional 1,350 shares during the period. Hilltop Holdings Inc.’s holdings in Texas Pacific Land were worth $1,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Aureus Asset Management LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth $220,000. Erste Asset Management GmbH acquired a new stake in shares of Texas Pacific Land during the third quarter worth $337,000. Encompass More Asset Management raised its position in shares of Texas Pacific Land by 310.3% during the third quarter. Encompass More Asset Management now owns 1,510 shares of the financial services provider’s stock worth $1,336,000 after purchasing an additional 1,142 shares during the period. Flow Traders U.S. LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth $564,000. Finally, Captrust Financial Advisors raised its position in shares of Texas Pacific Land by 3.0% during the third quarter. Captrust Financial Advisors now owns 1,528 shares of the financial services provider’s stock worth $1,352,000 after purchasing an additional 44 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought 117 shares of company stock worth $132,677 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,572.09 on Wednesday. The business’s 50-day moving average price is $1,203.43 and its two-hundred day moving average price is $922.54. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The company has a market capitalization of $36.13 billion, a P/E ratio of 80.55 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.41%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is 32.84%.

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.