Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,185 shares of the financial services provider’s stock after selling 475 shares during the period. Mutual of America Capital Management LLC’s holdings in Texas Pacific Land were worth $9,011,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in Texas Pacific Land during the second quarter valued at approximately $131,014,000. Bank of New York Mellon Corp lifted its holdings in 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 worth $149,920,000 after buying an additional 86,975 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Texas Pacific Land by 1,541.2% in the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after acquiring an additional 60,400 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at approximately $45,400,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 114 shares of company stock worth $115,874 in the last 90 days. 6.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Texas Pacific Land Stock Down 0.1 %

Shares of NYSE TPL opened at $1,359.94 on Monday. The firm’s 50-day moving average price is $1,049.39 and its two-hundred day moving average price is $848.01. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,421.22. The stock has a market capitalization of $31.25 billion, a P/E ratio of 69.78 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is 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.