Edgestream Partners L.P. Invests $1.65 Million in Texas Pacific Land Co. (NYSE:TPL)

Edgestream Partners L.P. bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,250 shares of the financial services provider’s stock, valued at approximately $1,646,000.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 8.2% during the first quarter. Vanguard Group Inc. now owns 629,117 shares of the financial services provider’s stock worth $850,635,000 after purchasing an additional 47,484 shares during the period. BlackRock Inc. increased its stake in shares of Texas Pacific Land by 5.6% during the first quarter. BlackRock Inc. now owns 454,574 shares of the financial services provider’s stock worth $773,239,000 after purchasing an additional 24,149 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of Texas Pacific Land by 80,933.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 208,256 shares of the financial services provider’s stock worth $488,200,000 after purchasing an additional 207,999 shares during the period. State Street Corp increased its stake in shares of Texas Pacific Land by 3.5% during the first quarter. State Street Corp now owns 201,079 shares of the financial services provider’s stock worth $342,039,000 after purchasing an additional 6,810 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Texas Pacific Land by 2.0% during the first quarter. Geode Capital Management LLC now owns 101,741 shares of the financial services provider’s stock worth $173,854,000 after purchasing an additional 2,025 shares during the period. Institutional investors own 60.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPL. StockNews.com began coverage on Texas Pacific Land in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus increased their price target on Texas Pacific Land from $1,371.00 to $1,622.00 in a research report on Friday, August 11th.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 100 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $1,851.77, for a total value of $185,177.00. Following the sale, the vice president now owns 268 shares of the company’s stock, valued at approximately $496,274.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have acquired 103 shares of company stock valued at $186,172. 20.04% of the stock is currently owned by corporate insiders.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,638.42 on Tuesday. The stock’s fifty day moving average price is $1,802.52 and its two-hundred day moving average price is $1,618.71. The company has a market cap of $12.57 billion, a PE ratio of 32.14 and a beta of 1.75. Texas Pacific Land Co. has a fifty-two week low of $1,266.21 and a fifty-two week high of $2,668.98.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 30th. Texas Pacific Land’s dividend payout ratio is presently 25.51%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages surface acres of land. This segment also holds own 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 located in the western part of Texas.