Crestmont Private Wealth LLC Buys Shares of 186 Texas Pacific Land Co. (NYSE:TPL)

Crestmont Private Wealth LLC bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 186 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its stake in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Geode Capital Management LLC boosted its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new stake in Texas Pacific Land during the 2nd quarter valued at $131,014,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after buying an additional 1,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after buying an additional 9,878 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought 86 shares of company stock valued at $113,145 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL opened at $1,328.63 on Wednesday. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The firm has a market capitalization of $30.53 billion, a P/E ratio of 68.17 and a beta of 1.68. The business has a fifty day moving average of $1,320.23 and a 200 day moving average of $1,038.68.

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 annualized dividend and a dividend yield of 0.48%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is presently 32.84%.

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.