UMB Bank n.a. Grows Position in Texas Pacific Land Co. (NYSE:TPL)

UMB Bank n.a. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 2,839.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,881 shares of the financial services provider’s stock after purchasing an additional 2,783 shares during the quarter. UMB Bank n.a.’s holdings in Texas Pacific Land were worth $3,186,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TPL. Capital Performance Advisors LLP acquired a new position in shares of Texas Pacific Land in the third quarter worth about $25,000. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land in the 3rd quarter worth about $44,000. Quest Partners LLC purchased a new position in Texas Pacific Land during the third quarter worth approximately $50,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Texas Pacific Land by 21.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 12 shares during the period. Finally, Signaturefd LLC increased its position in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was 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 the SEC website. Insiders have purchased a total of 81 shares of company stock worth $108,145 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,409.30 on Tuesday. The business’s 50 day moving average price is $1,324.97 and its 200-day moving average price is $1,061.41. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 72.31 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.45%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.84%.

Texas Pacific Land Company 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.