Pinnacle Bancorp Inc. Has $359,000 Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Pinnacle Bancorp Inc. grew its holdings in Texas Pacific Land Co. (NYSE:TPL) by 62.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325 shares of the financial services provider’s stock after acquiring an additional 125 shares during the period. Pinnacle Bancorp Inc.’s holdings in Texas Pacific Land were worth $359,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Texas Pacific Land in the third quarter worth $25,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth about $44,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land during the 3rd quarter valued at about $50,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have bought 86 shares of company stock worth $113,145. 6.50% of the stock is owned by insiders.

Texas Pacific Land Stock Up 3.6 %

Shares of Texas Pacific Land stock opened at $1,376.52 on Thursday. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14. The stock has a 50 day moving average price of $1,321.94 and a two-hundred day moving average price of $1,042.87. The stock has a market capitalization of $31.63 billion, a P/E ratio of 70.63 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $1.60 per share. 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 0.46%. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is currently 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.