Victory Capital Management Inc. Sells 2,307 Shares of Texas Pacific Land Co. (NYSE:TPL)

Victory Capital Management Inc. decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 15.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 12,310 shares of the financial services provider’s stock after selling 2,307 shares during the period. Victory Capital Management Inc. owned about 0.05% of Texas Pacific Land worth $10,891,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TPL. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land during the third quarter valued at $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $44,000. American National Bank bought a new position in Texas Pacific Land during the 2nd quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land during the second quarter valued at $44,000. Finally, Signaturefd LLC boosted its holdings in 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 acquiring an additional 13 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the company’s 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 sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders bought 117 shares of company stock worth $121,683. 6.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Stock Up 2.4 %

TPL opened at $1,453.71 on Thursday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,456.83. The stock has a market capitalization of $33.40 billion, a price-to-earnings ratio of 74.59 and a beta of 1.56. The firm has a 50 day moving average price of $1,087.38 and a 200-day moving average price of $864.11.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.44%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio 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.