UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Texas Pacific Land Co. (NYSE:TPL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Texas Pacific Land Co. (NYSE:TPL) by 10.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,836 shares of the financial services provider’s stock after purchasing an additional 6,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.31% of Texas Pacific Land worth $62,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its holdings in shares of Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after buying an additional 13 shares during the period. Townsquare Capital LLC purchased a new stake in Texas Pacific Land in the third quarter worth about $264,000. FMR LLC grew its holdings in Texas Pacific Land by 41.5% during the 3rd quarter. FMR LLC now owns 2,525 shares of the financial services provider’s stock worth $2,234,000 after acquiring an additional 740 shares in the last quarter. Bank of Montreal Can increased its position in Texas Pacific Land by 2.2% during the 3rd quarter. Bank of Montreal Can now owns 6,561 shares of the financial services provider’s stock valued at $5,820,000 after purchasing an additional 142 shares during the period. Finally, Independent Advisor Alliance raised its holdings in shares of Texas Pacific Land by 1.4% in the 3rd quarter. Independent Advisor Alliance now owns 3,627 shares of the financial services provider’s stock valued at $3,209,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,496.69 on Tuesday. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,769.14. The business has a fifty day moving average price of $1,192.55 and a 200 day moving average price of $916.29. The stock has a market capitalization of $34.39 billion, a P/E ratio of 76.79 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.60 dividend. This is a boost 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 0.43%. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction 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. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 114 shares of company stock worth $128,124. Corporate insiders own 6.50% of the company’s stock.

Analyst Upgrades and Downgrades

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