Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,427 shares of the financial services provider’s stock after selling 72 shares during the period. Thrivent Financial for Lutherans’ holdings in Texas Pacific Land were worth $3,917,000 at the end of the most recent reporting period.

Other institutional investors 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 during the third quarter worth $25,000. American National Bank purchased a new position in Texas Pacific Land in the 2nd quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth $44,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land in the third quarter valued at about $44,000. Finally, Signaturefd LLC grew its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

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

Texas Pacific Land Trading Up 14.2 %

Shares of Texas Pacific Land stock opened at $1,730.00 on Monday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,749.44. The stock has a market capitalization of $39.76 billion, a P/E ratio of 88.76 and a beta of 1.56. The business’s fifty day moving average price is $1,120.26 and its 200 day moving average price is $881.05.

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 issued a dividend of $1.60 per share. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.37%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 114 shares of company stock valued at $120,929 over the last three months. 6.50% of the stock is owned by 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.