Texas Pacific Land Co. (NYSE:TPL) Stake Lifted by Cerity Partners LLC

Cerity Partners LLC raised its stake in Texas Pacific Land Co. (NYSE:TPL) by 24.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,370 shares of the financial services provider’s stock after buying an additional 2,044 shares during the quarter. Cerity Partners LLC’s holdings in Texas Pacific Land were worth $9,175,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Biltmore Family Office LLC bought a new stake in Texas Pacific Land in the 3rd quarter valued at about $337,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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 valued at $10,645,000 after buying an additional 5,255 shares during the last quarter. Marietta Wealth Management LLC acquired a new position in shares of Texas Pacific Land during the second quarter worth approximately $2,926,000. Public Employees Retirement Association of Colorado grew its holdings in Texas Pacific Land by 179.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 2,040 shares of the financial services provider’s stock worth $1,180,000 after buying an additional 1,309 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Texas Pacific Land by 197.6% in the 1st 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 acquiring an additional 7,228 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the firm’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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 114 shares of company stock worth $123,503. 6.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Texas Pacific Land Trading Down 2.6 %

Shares of NYSE:TPL opened at $1,572.43 on Wednesday. The company has a 50 day moving average of $1,135.75 and a 200-day moving average of $888.07. The firm has a market cap of $36.13 billion, a P/E ratio of 80.68 and a beta of 1.56. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.