Prospera Financial Services Inc Trims Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Prospera Financial Services Inc reduced its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 41.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,314 shares of the financial services provider’s stock after selling 3,723 shares during the period. Prospera Financial Services Inc’s holdings in Texas Pacific Land were worth $4,706,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TPL. Signaturefd LLC lifted its position in shares of Texas Pacific Land by 16.9% during 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. First Financial Bankshares Inc boosted 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 during the period. BOKF NA grew its stake in Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after acquiring an additional 17 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Texas Pacific Land by 2.9% during 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 during the period. Finally, Accordant Advisory Group Inc raised its stake in shares of Texas Pacific Land by 1.9% during 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 in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land 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 value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. This trade 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 the SEC website. Insiders have purchased 114 shares of company stock worth $117,463 over the last quarter. Insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 1.4 %

Texas Pacific Land stock opened at $1,417.82 on Wednesday. The firm has a market cap of $32.58 billion, a P/E ratio of 72.75 and a beta of 1.56. The business has a fifty day moving average of $1,074.10 and a two-hundred day moving average of $859.95. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,421.66.

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 given 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 yield of 0.45%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.01%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th.

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.