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

Pinnacle Bancorp Inc. increased its stake in Texas Pacific Land Co. (NYSE:TPL) by 62.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325 shares of the financial services provider’s stock after purchasing an additional 125 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Texas Pacific Land were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Texas Pacific Land by 21.1% in 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 in the last quarter. Assenagon Asset Management S.A. raised its stake in Texas Pacific Land by 26.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 474 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 100 shares during the period. Crestmont Private Wealth LLC purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at $206,000. Miracle Mile Advisors LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth $8,545,000. Finally, Wedmont Private Capital grew its holdings in shares of Texas Pacific Land by 16.8% during the fourth quarter. Wedmont Private Capital now owns 243 shares of the financial services provider’s stock valued at $269,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 3.6 %

NYSE:TPL opened at $1,376.52 on Thursday. 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 $31.63 billion, a price-to-earnings ratio of 70.63 and a beta of 1.68. The business’s fifty day moving average price is $1,321.94 and its 200 day moving average price is $1,042.87.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is 32.84%.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were 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 approximately $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased 86 shares of company stock valued at $113,145 over the last three months. 6.50% of the stock is owned by corporate insiders.

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.