Daiwa Securities Group Inc. Acquires 200 Shares of Texas Pacific Land Co. (NYSE:TPL)

Daiwa Securities Group Inc. raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 14.8% during the third quarter, HoldingsChannel reports. The fund owned 1,547 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Texas Pacific Land were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $25,000. American National Bank bought a new position in Texas Pacific Land in the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land during the 2nd quarter valued at $44,000. Compagnie Lombard Odier SCmA bought a new position in shares of Texas Pacific Land in the third quarter worth $44,000. Finally, Quest Partners LLC purchased a new stake in shares of Texas Pacific Land in the third quarter worth $50,000. 59.94% of the stock is owned by institutional investors.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the 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 directly owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 114 shares of company stock valued at $125,642 over the last 90 days. 6.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,600.09 on Friday. The company has a 50 day simple moving average of $1,179.26 and a two-hundred day simple moving average of $905.05. The firm has a market cap of $36.76 billion, a PE ratio of 82.10 and a beta of 1.56. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.40%. Texas Pacific Land’s payout ratio 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.