EP Wealth Advisors LLC Invests $900,000 in Texas Pacific Land Co. (NYSE:TPL)

EP Wealth Advisors LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,017 shares of the financial services provider’s stock, valued at approximately $900,000.

A number of other large investors have also added to or reduced their stakes in TPL. Capital Performance Advisors LLP bought a new position in shares of Texas Pacific Land in the 3rd quarter worth approximately $25,000. Compagnie Lombard Odier SCmA bought a new position in Texas Pacific Land in the third quarter worth approximately $44,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $50,000. American National Bank bought a new stake in shares of Texas Pacific Land during the 2nd quarter valued at $42,000. Finally, Signaturefd LLC increased its stake in shares of Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 117 shares of company stock worth $138,190 in the last three months. Company insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,298.12 on Wednesday. The business’s fifty day moving average is $1,260.26 and its 200 day moving average is $954.92. The company has a market capitalization of $29.83 billion, a PE ratio of 66.60 and a beta of 1.62. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This is a boost 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 0.49%. Texas Pacific Land’s dividend payout ratio is 32.84%.

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.