First Financial Bank Trust Division Invests $217,000 in Texas Pacific Land Co. (NYSE:TPL)

First Financial Bank Trust Division purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 196 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. Franklin Resources Inc. lifted its position in Texas Pacific Land by 74.0% in the 3rd quarter. Franklin Resources Inc. now owns 14,367 shares of the financial services provider’s stock worth $12,711,000 after buying an additional 6,109 shares in the last quarter. Synovus Financial Corp acquired a new position in shares of Texas Pacific Land in the third quarter worth $208,000. Tidal Investments LLC raised its holdings in shares of Texas Pacific Land by 143.8% during the third quarter. Tidal Investments LLC now owns 5,319 shares of the financial services provider’s stock worth $4,706,000 after acquiring an additional 3,137 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Texas Pacific Land by 17.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 6,050 shares of the financial services provider’s stock valued at $5,353,000 after purchasing an additional 915 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Texas Pacific Land in the third quarter valued at about $211,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 6.7 %

TPL stock traded up $74.12 during mid-day trading on Thursday, hitting $1,180.08. The stock had a trading volume of 137,124 shares, compared to its average volume of 134,166. 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 fifty day moving average of $1,301.34 and a 200 day moving average of $1,008.83. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of 60.55 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.54%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is currently 32.84%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 99 shares of company stock valued at $124,992. 6.50% of the stock is currently owned by corporate 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.