Independent Advisor Alliance Has $3.21 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Independent Advisor Alliance boosted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,627 shares of the financial services provider’s stock after buying an additional 50 shares during the quarter. Independent Advisor Alliance’s holdings in Texas Pacific Land were worth $3,209,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Texas Pacific Land Trading Down 6.8 %

Shares of Texas Pacific Land stock opened at $1,613.10 on Tuesday. The company has a market capitalization of $37.06 billion, a PE ratio of 82.77 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The stock’s fifty day simple moving average is $1,135.75 and its 200 day simple moving average is $888.07.

Texas Pacific Land Increases Dividend

The firm also recently disclosed 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 0.40%. The ex-dividend date is Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

Insider Buying and Selling

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

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.