Coldstream Capital Management Inc. Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

Coldstream Capital Management Inc. purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 238 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land in the 3rd quarter valued at approximately $25,000. American National Bank purchased a new position in shares of Texas Pacific Land during the second quarter worth $42,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Texas Pacific Land in the third quarter valued at $44,000. Quest Partners LLC purchased a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $50,000. Finally, Signaturefd LLC lifted its stake in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 112 shares of company stock worth $135,764 in the last ninety days. 6.50% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $1,203.66 on Wednesday. The stock has a market capitalization of $27.65 billion, a price-to-earnings ratio of 61.76 and a beta of 1.62. The business has a 50-day moving average of $1,283.98 and a 200 day moving average of $975.74. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $1.60 dividend. The ex-dividend date was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is 32.84%.

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.