Empowered Funds LLC Has $5.36 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Empowered Funds LLC trimmed its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,060 shares of the financial services provider’s stock after selling 309 shares during the period. Empowered Funds LLC’s holdings in Texas Pacific Land were worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TPL. Sei Investments Co. grew its position in Texas Pacific Land by 240.1% in the first quarter. Sei Investments Co. now owns 789 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 557 shares in the last quarter. Russell Investments Group Ltd. increased its position in Texas Pacific Land by 174.6% during the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after buying an additional 7,476 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Texas Pacific Land by 204.2% during the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after buying an additional 678 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Texas Pacific Land by 163.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,154 shares of the financial services provider’s stock worth $8,751,000 after buying an additional 9,402 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Texas Pacific Land by 199.8% during 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 acquiring an additional 1,267,123 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the company’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 directly owns 584 shares in the company, valued at $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 available through this link. Insiders acquired a total of 114 shares of company stock worth $115,874 in the last 90 days. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Texas Pacific Land Price Performance

Shares of TPL opened at $1,359.94 on Monday. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,421.22. The company’s fifty day moving average price is $1,049.39 and its 200 day moving average price is $848.01. The company has a market capitalization of $31.25 billion, a PE ratio of 69.78 and a beta of 1.56.

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 given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is currently 24.01%.

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.