National Bank of Canada FI Sells 196 Shares of Texas Pacific Land Co. (NYSE:TPL)

National Bank of Canada FI cut its position in Texas Pacific Land Co. (NYSE:TPL) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,182 shares of the financial services provider’s stock after selling 196 shares during the period. National Bank of Canada FI’s holdings in Texas Pacific Land were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land in the 3rd quarter worth $25,000. American National Bank bought a new position in shares of Texas Pacific Land in the second quarter worth about $42,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the third quarter worth about $44,000. Quest Partners LLC bought a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $50,000. Finally, Signaturefd LLC lifted its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of TPL opened at $1,198.97 on Friday. The firm has a market cap of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The company has a 50 day simple moving average of $1,274.68 and a two-hundred day simple moving average of $962.43.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s payout ratio is currently 32.84%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 117 shares of company stock worth $139,646 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

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.