Pacer Advisors Inc. Acquires 5,223 Shares of Texas Pacific Land Co. (NYSE:TPL)

Pacer Advisors Inc. grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 102.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,313 shares of the financial services provider’s stock after buying an additional 5,223 shares during the period. Pacer Advisors Inc.’s holdings in Texas Pacific Land were worth $9,124,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TPL. Signaturefd LLC increased its stake 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 purchasing an additional 13 shares in the last quarter. First Financial Bankshares Inc increased its position in Texas Pacific Land by 2.2% in the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after buying an additional 16 shares in the last quarter. BOKF NA raised its stake in Texas Pacific Land by 1.1% during the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 17 shares during the period. CIBC Asset Management Inc boosted its holdings in Texas Pacific Land by 2.9% in the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock worth $555,000 after acquiring an additional 21 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its stake in Texas Pacific Land by 1.9% in the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 26 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,730.00 on Friday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 88.76 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. The firm’s 50-day simple moving average is $1,120.26 and its 200 day simple moving average is $878.83.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.37%. Texas Pacific Land’s dividend payout ratio is presently 24.01%.

Analysts Set New Price Targets

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

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 sale, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought a total of 117 shares of company stock worth $123,524 over the last quarter. Insiders own 6.50% of the company’s stock.

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.