EagleClaw Capital Managment LLC Sells 553 Shares of Texas Pacific Land Co. (NYSE:TPL)

EagleClaw Capital Managment LLC reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 47,591 shares of the financial services provider’s stock after selling 553 shares during the quarter. Texas Pacific Land comprises approximately 7.0% of EagleClaw Capital Managment LLC’s holdings, making the stock its biggest position. EagleClaw Capital Managment LLC’s holdings in Texas Pacific Land were worth $42,106,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock worth $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in Texas Pacific Land in the 2nd quarter worth approximately $131,014,000. Bank of New York Mellon Corp raised its position in shares of Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after buying an additional 86,975 shares during the period. Principal Financial Group Inc. raised its position in shares of Texas Pacific Land by 1,541.2% during the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock valued at $47,228,000 after buying an additional 60,400 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at approximately $45,400,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 1.4 %

NYSE TPL traded up $19.07 on Wednesday, reaching $1,417.82. The stock had a trading volume of 79,507 shares, compared to its average volume of 103,416. The firm has a market capitalization of $32.58 billion, a price-to-earnings ratio of 72.75 and a beta of 1.56. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,421.66. The stock has a fifty day moving average price of $1,074.10 and a two-hundred day moving average price of $859.95.

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 is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.45%. Texas Pacific Land’s payout ratio is 24.01%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. The trade was 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 the SEC website. Insiders acquired a total of 114 shares of company stock worth $117,463 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

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.