Sigma Planning Corp Sells 85 Shares of Texas Pacific Land Co. (NYSE:TPL)

Sigma Planning Corp cut its position in Texas Pacific Land Co. (NYSE:TPL) by 25.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 247 shares of the financial services provider’s stock after selling 85 shares during the quarter. Sigma Planning Corp’s holdings in Texas Pacific Land were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Texas Pacific Land in the third quarter valued at $25,000. American National Bank acquired a new position in Texas Pacific Land during the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land during the 2nd quarter worth approximately $44,000. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land during the 3rd quarter worth approximately $44,000. Finally, Signaturefd LLC raised its stake 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 worth $80,000 after purchasing an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

TPL opened at $1,359.94 on Monday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,421.22. The firm has a market capitalization of $31.25 billion, a P/E ratio of 69.78 and a beta of 1.56. The company’s 50-day moving average is $1,049.39 and its 200 day moving average is $848.01.

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 given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Analyst Ratings Changes

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

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value 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. The trade was a 26.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 114 shares of company stock worth $115,874 in the last 90 days. Insiders own 6.50% of the company’s stock.

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.