Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lowered its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80 shares of the financial services provider’s stock after selling 28 shares during the quarter. Venturi Wealth Management LLC’s holdings in Texas Pacific Land were worth $71,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at approximately $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth $44,000. American National Bank acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land in the 2nd quarter valued at about $44,000. Finally, Signaturefd LLC lifted 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 valued at $80,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,361.20 on Friday. 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 $31.28 billion, a price-to-earnings ratio of 69.84 and a beta of 1.56. The stock’s fifty day moving average is $1,038.16 and its two-hundred day moving average is $838.85.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is presently 24.01%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This represents 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 link. In the last three months, insiders acquired 117 shares of company stock worth $118,351. 6.50% of the stock is owned by corporate insiders.

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.