Aureus Asset Management LLC Buys Shares of 249 Texas Pacific Land Co. (NYSE:TPL)

Aureus Asset Management LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 249 shares of the financial services provider’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land during the third quarter worth $25,000. American National Bank bought a new position in shares of Texas Pacific Land in the 2nd quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land during the 2nd quarter worth $44,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land during the third quarter valued at about $44,000. Finally, Quest Partners LLC purchased a new position in Texas Pacific Land in the third quarter valued at about $50,000. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Trading Down 6.4 %

NYSE TPL opened at $1,496.69 on Tuesday. The firm’s fifty day simple moving average is $1,192.55 and its two-hundred day simple moving average is $916.29. The firm has a market capitalization of $34.39 billion, a P/E ratio of 76.79 and a beta of 1.62. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.43%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s payout ratio is 24.01%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 114 shares of company stock valued at $128,124 in the last ninety days. Corporate 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.