Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Brave Asset Management Inc.

Brave Asset Management Inc. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 87.1% during the 4th quarter, Holdings Channel reports. The firm owned 537 shares of the financial services provider’s stock after purchasing an additional 250 shares during the period. Brave Asset Management Inc.’s holdings in Texas Pacific Land were worth $594,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TPL. DekaBank Deutsche Girozentrale grew its holdings in Texas Pacific Land by 12.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,137 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 129 shares during the period. Federated Hermes Inc. acquired a new position in shares of Texas Pacific Land in the 2nd quarter worth approximately $1,466,000. WINTON GROUP Ltd bought a new stake in shares of Texas Pacific Land in the 2nd quarter worth approximately $885,000. Dimensional Fund Advisors LP lifted its stake in 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 valued at $92,632,000 after purchasing an additional 9,878 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Texas Pacific Land during the second quarter worth approximately $210,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,376.52 on Thursday. The firm has a market cap of $31.63 billion, a price-to-earnings ratio of 70.63 and a beta of 1.68. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The firm’s 50 day moving average price is $1,321.94 and its two-hundred day moving average price is $1,042.87.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.46%. Texas Pacific Land’s payout ratio is 32.84%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the business’s 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 sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 86 shares of company stock valued at $113,145 over the last three months. Insiders own 6.50% of the company’s stock.

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.