Encompass More Asset Management Grows Position in Texas Pacific Land Co. (NYSE:TPL)

Encompass More Asset Management raised its holdings in Texas Pacific Land Co. (NYSE:TPL) by 310.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,510 shares of the financial services provider’s stock after purchasing an additional 1,142 shares during the quarter. Encompass More Asset Management’s holdings in Texas Pacific Land were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land in the 3rd quarter worth approximately $25,000. American National Bank purchased a new position in Texas Pacific Land during the second quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land during the second quarter valued at $44,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Texas Pacific Land in the third quarter worth $44,000. Finally, Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the third quarter worth $50,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,600.09 on Friday. The stock has a 50 day moving average price of $1,179.26 and a 200 day moving average price of $905.05. The firm has a market capitalization of $36.76 billion, a P/E ratio of 82.10 and a beta of 1.56. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week 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 0.40%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s payout ratio is 32.84%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was 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 represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 114 shares of company stock worth $125,642 in the last ninety days. 6.50% of the stock is owned by insiders.

About Texas Pacific Land

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.