Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Encompass More Asset Management

Encompass More Asset Management boosted its holdings in Texas Pacific Land Co. (NYSE:TPL) by 310.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,510 shares of the financial services provider’s stock after purchasing an additional 1,142 shares during the quarter. Encompass More Asset Management’s holdings in Texas Pacific Land were worth $1,336,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TPL. Capital Performance Advisors LLP acquired a new stake in shares of Texas Pacific Land during the 3rd quarter valued at approximately $25,000. American National Bank purchased a new stake in Texas Pacific Land in the 2nd quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land during the 2nd quarter valued at $44,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land during the 3rd quarter valued at $44,000. Finally, Quest Partners LLC acquired a new position in Texas Pacific Land in the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,600.09 on Friday. The stock has a market cap of $36.76 billion, a P/E ratio of 82.10 and a beta of 1.56. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14. The stock has a fifty day moving average price of $1,179.26 and a 200 day moving average price of $905.05.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. The ex-dividend date is 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 0.40%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the business’s 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 transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was 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 bought a total of 114 shares of company stock worth $125,642 over the last 90 days. Insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Texas Pacific Land

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.