Waverton Investment Management Ltd Purchases 2,160 Shares of Texas Pacific Land Co. (NYSE:TPL)

Waverton Investment Management Ltd grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 18.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,166 shares of the financial services provider’s stock after purchasing an additional 2,160 shares during the quarter. Waverton Investment Management Ltd’s holdings in Texas Pacific Land were worth $12,524,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $25,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land in the third quarter valued at approximately $44,000. American National Bank purchased a new stake in Texas Pacific Land in the second quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land in the second quarter valued at approximately $44,000. Finally, Signaturefd LLC boosted its position in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,398.65 on Tuesday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,417.72. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 71.76 and a beta of 1.56. The business’s 50 day moving average price is $1,003.70 and its 200-day moving average price is $825.75.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

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.