MetLife Investment Management LLC Has $9.37 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

MetLife Investment Management LLC reduced its holdings in Texas Pacific Land Co. (NYSE:TPL) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,595 shares of the financial services provider’s stock after selling 86 shares during the period. MetLife Investment Management LLC’s holdings in Texas Pacific Land were worth $9,374,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Biltmore Family Office LLC acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $337,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Texas Pacific Land by 56.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock worth $10,645,000 after acquiring an additional 5,255 shares during the period. Marietta Wealth Management LLC acquired a new stake in shares of Texas Pacific Land during the 2nd quarter worth approximately $2,926,000. DekaBank Deutsche Girozentrale increased its position in shares of Texas Pacific Land by 216.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,008 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 689 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Texas Pacific Land by 197.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,885 shares of the financial services provider’s stock valued at $6,298,000 after purchasing an additional 7,228 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,636.69 on Friday. The stock has a fifty day moving average price of $1,164.84 and a two-hundred day moving average price of $899.94. The company has a market cap of $37.61 billion, a price-to-earnings ratio of 83.98 and a beta of 1.56. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14.

Texas Pacific Land Increases Dividend

The business 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 0.39%. 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. Texas Pacific Land’s dividend payout ratio is presently 24.01%.

Wall Street Analyst Weigh In

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

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 111 shares of company stock valued at $120,905 over the last quarter. Corporate insiders own 6.50% of the company’s stock.

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.