Douglass Winthrop Advisors LLC Grows Position in Texas Pacific Land Co. (NYSE:TPL)

Douglass Winthrop Advisors LLC raised its holdings in Texas Pacific Land Co. (NYSE:TPL) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,198 shares of the financial services provider’s stock after purchasing an additional 3,363 shares during the quarter. Texas Pacific Land comprises approximately 1.7% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 28th largest holding. Douglass Winthrop Advisors LLC owned about 0.43% of Texas Pacific Land worth $87,764,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TPL. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the third quarter worth approximately $44,000. Quest Partners LLC acquired a new stake in shares of Texas Pacific Land during the third quarter worth $50,000. American National Bank acquired a new stake in shares of Texas Pacific Land in the 2nd quarter worth $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated 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 represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders purchased 114 shares of company stock worth $120,929. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Performance

TPL stock opened at $1,730.00 on Monday. The stock’s 50 day moving average price is $1,120.26 and its 200 day moving average price is $881.05. The firm has a market cap of $39.76 billion, a P/E ratio of 88.76 and a beta of 1.56. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,749.44.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a dividend yield of 0.37%. 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 presently 24.01%.

Texas Pacific Land Company 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.