Texas Pacific Land Co. (NYSE:TPL) Shares Bought by One Charles Private Wealth Services LLC

One Charles Private Wealth Services LLC increased its stake in Texas Pacific Land Co. (NYSE:TPL) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,062 shares of the financial services provider’s stock after acquiring an additional 559 shares during the quarter. Texas Pacific Land comprises 8.1% of One Charles Private Wealth Services LLC’s holdings, making the stock its 3rd largest holding. One Charles Private Wealth Services LLC’s holdings in Texas Pacific Land were worth $21,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TPL. Magnolia Capital Advisors LLC bought a new position in shares of Texas Pacific Land in the 2nd quarter worth about $131,014,000. Bank of New York Mellon Corp grew its stake 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 worth $149,920,000 after purchasing an additional 86,975 shares during the period. Principal Financial Group Inc. grew its stake 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 purchasing an additional 60,400 shares during the period. International Assets Investment Management LLC bought a new stake in Texas Pacific Land in the third quarter worth approximately $45,400,000. Finally, California State Teachers Retirement System lifted its stake in Texas Pacific Land by 244.2% in the first quarter. California State Teachers Retirement System now owns 58,383 shares of the financial services provider’s stock valued at $33,775,000 after buying an additional 41,422 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

TPL stock opened at $1,734.95 on Friday. The stock’s 50 day simple moving average is $1,120.26 and its 200 day simple moving average is $876.68. The company has a market cap of $39.87 billion, a P/E ratio of 89.02 and a beta of 1.56. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,749.44.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. This is a boost 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 0.37%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction 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 directly owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders acquired 117 shares of company stock valued at $123,524. 6.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Monday, August 12th.

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.