Horizon Kinetics Asset Management LLC Sells 62 Shares of Texas Pacific Land Co. (NYSE:TPL)

Horizon Kinetics Asset Management LLC decreased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 0.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,694,365 shares of the financial services provider’s stock after selling 62 shares during the quarter. Texas Pacific Land makes up approximately 48.9% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its largest holding. Horizon Kinetics Asset Management LLC owned 0.16% of Texas Pacific Land worth $3,268,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Texas Pacific Land in the third quarter worth about $25,000. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land during the third quarter worth about $44,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter worth approximately $50,000. American National Bank bought a new stake in Texas Pacific Land during the second quarter worth approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Pacific Land during the 2nd quarter valued at $44,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 14.2 %

Shares of TPL stock opened at $1,730.00 on Monday. The company has a market capitalization of $39.76 billion, a P/E ratio of 88.76 and a beta of 1.56. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,749.44. The firm has a 50-day moving average price of $1,120.26 and a 200 day moving average price of $881.05.

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 $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is 24.01%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the 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 $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have bought 114 shares of company stock valued at $120,929. 6.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.