Franklin Resources Inc. Boosts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Franklin Resources Inc. grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 74.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,367 shares of the financial services provider’s stock after buying an additional 6,109 shares during the period. Franklin Resources Inc. owned 0.06% of Texas Pacific Land worth $12,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Signaturefd LLC lifted its stake in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 13 shares during the last quarter. First Financial Bankshares Inc increased its position in shares of Texas Pacific Land by 2.2% during the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 16 shares in the last quarter. BOKF NA lifted its holdings in shares of Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock valued at $1,154,000 after purchasing an additional 17 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Texas Pacific Land by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 21 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 3.4 %

NYSE:TPL opened at $1,133.12 on Friday. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,769.14. The stock’s 50 day moving average price is $1,288.56 and its 200 day moving average price is $977.54. The company has a market capitalization of $26.03 billion, a PE ratio of 58.14 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $1.60 per share. 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 dividend yield of 0.56%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.84%.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 111 shares of company stock valued at $135,317 in the last ninety days. 6.50% of the stock is currently owned by company insiders.

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.