Tower Bridge Advisors Sells 231 Shares of Texas Pacific Land Co. (NYSE:TPL)

Tower Bridge Advisors lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,569 shares of the financial services provider’s stock after selling 231 shares during the quarter. Tower Bridge Advisors’ holdings in Texas Pacific Land were worth $4,042,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its holdings in Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 678 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Texas Pacific Land by 174.6% in the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock valued at $6,802,000 after buying an additional 7,476 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Texas Pacific Land by 56.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock worth $10,645,000 after buying an additional 5,255 shares in the last quarter. Marietta Wealth Management LLC acquired a new stake in Texas Pacific Land during the second quarter worth approximately $2,926,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Texas Pacific Land by 422.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,459 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 1,180 shares during the period. Institutional investors own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction that occurred on 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 approximately $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders acquired 117 shares of company stock valued at $118,351. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Trading Down 0.1 %

Shares of Texas Pacific Land stock opened at $1,359.94 on Friday. The company has a 50 day moving average of $1,049.39 and a 200-day moving average of $845.98. The company has a market cap of $31.25 billion, a PE ratio of 69.78 and a beta of 1.56. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,421.22.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Wall Street Analysts Forecast Growth

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

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.