Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,326 shares of the financial services provider’s stock after selling 154 shares during the quarter. Toronto Dominion Bank’s holdings in Texas Pacific Land were worth $2,058,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Coldstream Capital Management Inc. acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $211,000. Geode Capital Management LLC grew its stake in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after buying an additional 81,974 shares during the last quarter. M&T Bank Corp increased its position in Texas Pacific Land by 6.2% in the third quarter. M&T Bank Corp now owns 922 shares of the financial services provider’s stock worth $815,000 after buying an additional 54 shares during the period. Barclays PLC lifted its stake in Texas Pacific Land by 6.1% in the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider’s stock valued at $17,600,000 after buying an additional 1,152 shares during the last quarter. Finally, Peloton Wealth Strategists boosted its holdings in shares of Texas Pacific Land by 1.8% during the third quarter. Peloton Wealth Strategists now owns 1,271 shares of the financial services provider’s stock valued at $1,125,000 after acquiring an additional 23 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,198.97 on Monday. The firm has a market capitalization of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. The company has a 50-day simple moving average of $1,274.68 and a 200-day simple moving average of $967.32. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,769.14.

Texas Pacific Land Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.53%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, 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 is accessible through the SEC website. Over the last 90 days, insiders have acquired 114 shares of company stock valued at $137,200. Insiders own 6.50% of the company’s stock.

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.