Miracle Mile Advisors LLC Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Miracle Mile Advisors LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 7,726 shares of the financial services provider’s stock, valued at approximately $8,545,000.

A number of other hedge funds have also bought and sold shares of TPL. Capital Performance Advisors LLP bought a new position in Texas Pacific Land during the third quarter valued at approximately $25,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land in the 3rd quarter worth $44,000. Quest Partners LLC bought a new stake in shares of Texas Pacific Land in the third quarter worth $50,000. Signaturefd LLC increased its position in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Texas Pacific Land by 880.0% during the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.6 %

NYSE TPL traded down $7.37 during trading hours on Monday, hitting $1,293.56. 154,443 shares of the company’s stock traded hands, compared to its average volume of 150,933. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14. The firm has a market capitalization of $29.72 billion, a P/E ratio of 66.37 and a beta of 1.68. The business’s fifty day moving average price is $1,318.51 and its two-hundred day moving average price is $1,034.73.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $1.60 dividend. 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. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is 32.84%.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 owns 584 shares of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 88 shares of company stock valued at $114,971. 6.50% of the stock is owned by company 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.