Waverton Investment Management Ltd Has $12.52 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Waverton Investment Management Ltd grew its stake in Texas Pacific Land Co. (NYSE:TPL) by 18.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,166 shares of the financial services provider’s stock after purchasing an additional 2,160 shares during the quarter. Waverton Investment Management Ltd owned about 0.06% of Texas Pacific Land worth $12,524,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. 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 valued at $1,099,867,000 after buying an additional 1,267,123 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after buying an additional 86,975 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of Texas Pacific Land in the 2nd quarter valued at $131,014,000. Dimensional Fund Advisors LP increased its position in shares of Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after buying an additional 9,878 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Texas Pacific Land by 1,541.2% during the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after purchasing an additional 60,400 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,398.65 on Tuesday. The firm has a 50-day moving average of $1,003.70 and a 200-day moving average of $825.75. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 71.76 and a beta of 1.56. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,417.72.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.46%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

Analyst Upgrades and Downgrades

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

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.