1,017 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,017 shares of the financial services provider’s stock, valued at approximately $900,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Texas Pacific Land in the third quarter worth approximately $25,000. American National Bank purchased a new stake in Texas Pacific Land in the second quarter worth $42,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land during the third quarter worth $44,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter valued at $50,000. Finally, Signaturefd LLC grew its holdings 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 purchasing an additional 13 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the company’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 completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 117 shares of company stock worth $138,190 over the last three months. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of TPL opened at $1,298.12 on Wednesday. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 66.60 and a beta of 1.62. The company has a 50-day moving average of $1,260.26 and a 200 day moving average of $954.92. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) 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.