Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 63.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,976 shares of the financial services provider’s stock after purchasing an additional 1,156 shares during the period. Quantinno Capital Management LP’s holdings in Texas Pacific Land were worth $2,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth $25,000. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land during the 3rd quarter valued at about $44,000. Quest Partners LLC acquired a new position in Texas Pacific Land during the third quarter worth about $50,000. American National Bank purchased a new stake in shares of Texas Pacific Land in the second quarter valued at about $42,000. Finally, Signaturefd LLC grew its position in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the firm’s 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 owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 117 shares of company stock valued at $138,190 over the last quarter. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,298.12 on Wednesday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The business has a 50 day moving average price of $1,260.26 and a 200 day moving average price of $954.92. The company has a market capitalization of $29.83 billion, a P/E ratio of 66.60 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The business also recently disclosed 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 an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

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.