OneDigital Investment Advisors LLC Sells 189 Shares of Texas Pacific Land Co. (NYSE:TPL)

OneDigital Investment Advisors LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 9.7% in the third quarter, HoldingsChannel reports. The firm owned 1,756 shares of the financial services provider’s stock after selling 189 shares during the period. OneDigital Investment Advisors LLC’s holdings in Texas Pacific Land were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Texas Pacific Land in the third quarter worth $25,000. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land in the third quarter worth about $44,000. American National Bank bought a new stake in shares of Texas Pacific Land during the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land during the 2nd quarter valued at about $44,000. Finally, Signaturefd LLC lifted 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 during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 0.1 %

Shares of TPL opened at $1,359.94 on Monday. The business has a 50-day simple moving average of $1,049.39 and a two-hundred day simple moving average of $848.01. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,421.22. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 69.78 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.60 per share. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.01%.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th.

Insider Buying and Selling at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the sale, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 114 shares of company stock valued at $115,874 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Texas Pacific Land Company 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.