Harvest Fund Management Co. Ltd Grows Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Harvest Fund Management Co. Ltd boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 158.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 517 shares of the financial services provider’s stock after buying an additional 317 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Texas Pacific Land were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Biltmore Family Office LLC acquired a new position in shares of Texas Pacific Land during the third quarter worth about $337,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Texas Pacific Land by 56.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock valued at $10,645,000 after buying an additional 5,255 shares in the last quarter. Marietta Wealth Management LLC acquired a new position in Texas Pacific Land during the second quarter worth $2,926,000. Public Employees Retirement Association of Colorado raised its position in Texas Pacific Land by 179.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 2,040 shares of the financial services provider’s stock worth $1,180,000 after acquiring an additional 1,309 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Texas Pacific Land by 197.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,885 shares of the financial services provider’s stock valued at $6,298,000 after acquiring an additional 7,228 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 2.6 %

Shares of TPL stock opened at $1,572.43 on Wednesday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The firm’s 50 day moving average price is $1,135.75 and its two-hundred day moving average price is $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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.41%. Texas Pacific Land’s payout ratio is currently 24.01%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders acquired 114 shares of company stock worth $123,503. 6.50% of the stock is currently owned by insiders.

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.