Cynosure Group LLC Sells 835 Shares of Texas Pacific Land Co. (NYSE:TPL)

Cynosure Group LLC lessened its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 29.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,996 shares of the financial services provider’s stock after selling 835 shares during the period. Cynosure Group LLC’s holdings in Texas Pacific Land were worth $1,766,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after acquiring an additional 86,975 shares during the period. Magnolia Capital Advisors LLC bought a new position in shares of Texas Pacific Land in the second quarter worth about $131,014,000. Charles Schwab Investment Management Inc. lifted its position in shares of Texas Pacific Land by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after purchasing an additional 1,984 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Texas Pacific Land by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after buying an additional 9,878 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC raised its position in shares of Texas Pacific Land by 3.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 99,198 shares of the financial services provider’s stock valued at $87,764,000 after buying an additional 3,363 shares during the last quarter. 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 business’s stock in a transaction on 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 transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 114 shares of company stock worth $123,503 over the last three months. Company insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

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

Texas Pacific Land Stock Down 2.6 %

Shares of TPL opened at $1,572.43 on Wednesday. The company has a 50-day moving average price of $1,135.75 and a two-hundred day moving average price of $888.07. The stock has a market cap of $36.13 billion, a price-to-earnings ratio of 80.68 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 0.41%. Texas Pacific Land’s payout ratio is currently 24.01%.

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.