Charles Schwab Investment Management Inc. Grows Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Charles Schwab Investment Management Inc. raised its stake in Texas Pacific Land Co. (NYSE:TPL) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,418 shares of the financial services provider’s stock after buying an additional 1,984 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.59% of Texas Pacific Land worth $120,694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Signaturefd LLC increased its stake in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. First Financial Bankshares Inc increased its position in shares of Texas Pacific Land by 2.2% in the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after buying an additional 16 shares in the last quarter. BOKF NA raised its stake in shares of Texas Pacific Land by 1.1% during the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 17 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Texas Pacific Land by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock worth $555,000 after buying an additional 21 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its stake in Texas Pacific Land by 1.9% in the 2nd quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 26 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 transaction, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders acquired 114 shares of company stock worth $120,929 in the last 90 days. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Texas Pacific Land Stock Down 6.8 %

Shares of Texas Pacific Land stock opened at $1,613.10 on Tuesday. The firm has a market cap of $37.06 billion, a PE ratio of 82.77 and a beta of 1.56. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The business’s fifty day moving average is $1,135.75 and its two-hundred day moving average is $888.07.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.40%. This is a positive change 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 dividend payout ratio (DPR) 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.