Crestmont Private Wealth LLC Purchases Shares of 186 Texas Pacific Land Co. (NYSE:TPL)

Crestmont Private Wealth LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 186 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC boosted its stake 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 worth $80,000 after acquiring an additional 13 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares during the period. First Financial Bankshares Inc boosted its stake in shares of Texas Pacific Land by 2.2% in the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 16 shares during the period. Peloton Wealth Strategists boosted its stake in shares of Texas Pacific Land by 1.8% in the third quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock worth $1,125,000 after acquiring an additional 23 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Texas Pacific Land by 0.7% in the third quarter. Private Advisor Group LLC now owns 3,657 shares of the financial services provider’s stock worth $3,236,000 after acquiring an additional 27 shares during the period. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have bought 86 shares of company stock worth $113,145. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 2.2 %

NYSE TPL opened at $1,328.63 on Wednesday. The firm has a market cap of $30.53 billion, a price-to-earnings ratio of 68.17 and a beta of 1.68. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The business has a 50-day moving average price of $1,320.23 and a 200-day moving average price of $1,038.68.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were 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 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s 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.