Commerce Bank Sells 355 Shares of Texas Pacific Land Co. (NYSE:TPL)

Commerce Bank lowered its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,375 shares of the financial services provider’s stock after selling 355 shares during the period. Commerce Bank’s holdings in Texas Pacific Land were worth $3,871,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at about $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $44,000. Quest Partners LLC bought a new position in shares of Texas Pacific Land in the third quarter worth approximately $50,000. American National Bank bought a new stake in Texas Pacific Land during the 2nd quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land during the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders bought 117 shares of company stock valued at $123,524. Corporate insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

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 Trading Up 14.5 %

NYSE:TPL opened at $1,734.95 on Friday. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,749.44. The company has a 50-day moving average price of $1,120.26 and a 200-day moving average price of $876.68. The stock has a market cap of $39.87 billion, a price-to-earnings ratio of 89.02 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. 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 dividend on an annualized basis and a dividend yield of 0.37%. Texas Pacific Land’s dividend payout ratio 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.