Everence Capital Management Inc. Purchases New Shares in Texas Pacific Land Co. (NYSE:TPL)

Everence Capital Management Inc. acquired a new stake in Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 580 shares of the financial services provider’s stock, valued at approximately $641,000.

A number of other large investors have also modified their holdings of TPL. State Street Corp increased its stake in shares of Texas Pacific Land by 3.8% in the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock valued at $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Texas Pacific Land by 21.5% in the third quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after buying an additional 81,974 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $131,014,000. Charles Schwab Investment Management Inc. grew its stake in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock valued at $120,694,000 after acquiring an additional 1,984 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after acquiring an additional 9,878 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders bought 97 shares of company stock worth $123,206. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,211.03 on Friday. The company has a fifty day moving average of $1,305.43 and a two-hundred day moving average of $1,014.86. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $27.82 billion, a PE ratio of 62.14 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $1.60 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a yield of 0.53%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

About Texas Pacific Land

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.