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

Everence Capital Management Inc. purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 580 shares of the financial services provider’s stock, valued at approximately $641,000.

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

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock opened at $1,211.03 on Friday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 62.14 and a beta of 1.68. The stock has a 50 day moving average of $1,305.43 and a 200 day moving average of $1,014.86.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase 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 presently 32.84%.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares in the company, valued at $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 is available at the SEC website. In the last ninety days, insiders have purchased 97 shares of company stock worth $123,206. Company insiders own 6.50% of the company’s stock.

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.