7,726 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,726 shares of the financial services provider’s stock, valued at approximately $8,545,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Texas Pacific Land by 51.0% in the second quarter. Victory Capital Management Inc. now owns 14,617 shares of the financial services provider’s stock worth $10,733,000 after buying an additional 4,934 shares during the period. Acadian Asset Management LLC purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $1,216,000. BOKF NA increased its holdings in Texas Pacific Land by 1.1% during 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 period. DekaBank Deutsche Girozentrale raised its position in Texas Pacific Land by 12.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,137 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 129 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Texas Pacific Land in the 2nd quarter worth approximately $1,466,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Down 0.6 %

Shares of TPL traded down $7.37 during mid-day trading on Monday, hitting $1,293.56. 154,443 shares of the company’s stock traded hands, compared to its average volume of 150,933. The firm has a market capitalization of $29.72 billion, a P/E ratio of 66.37 and a beta of 1.68. The business’s 50-day moving average price is $1,318.51 and its 200-day moving average price is $1,034.73. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,769.14.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.84%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares in the company, valued at approximately $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 88 shares of company stock worth $114,971 over the last 90 days. 6.50% of the stock is owned by company 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.