Intech Investment Management LLC Has $863,000 Stake in Texas Pacific Land Co. (NYSE:TPL)

Intech Investment Management LLC reduced its holdings in Texas Pacific Land Co. (NYSE:TPL) by 43.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 975 shares of the financial services provider’s stock after selling 757 shares during the period. Intech Investment Management LLC’s holdings in Texas Pacific Land were worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. Bank of New York Mellon Corp boosted its position in Texas Pacific Land by 74.2% during the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 2nd quarter valued at approximately $131,014,000. Dimensional Fund Advisors LP grew its stake in shares of Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after buying an additional 9,878 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Texas Pacific Land by 1,541.2% during the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after buying an additional 60,400 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Texas Pacific Land by 132.7% during the second quarter. Rhumbline Advisers now owns 61,532 shares of the financial services provider’s stock worth $45,181,000 after acquiring an additional 35,084 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 4.1 %

TPL stock opened at $1,636.69 on Friday. The business’s 50 day simple moving average is $1,164.84 and its 200 day simple moving average is $899.94. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The firm has a market capitalization of $37.61 billion, a PE ratio of 83.98 and a beta of 1.56.

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. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.39%. 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 objective on shares of Texas Pacific Land in a research note on Monday, August 12th.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the 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 transaction of $291,549.30. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders purchased 111 shares of company stock worth $120,905. 6.50% of the stock is owned by insiders.

Texas Pacific Land Company 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.