UMB Bank n.a. Buys 2,783 Shares of Texas Pacific Land Co. (NYSE:TPL)

UMB Bank n.a. lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 2,839.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,881 shares of the financial services provider’s stock after acquiring an additional 2,783 shares during the period. UMB Bank n.a.’s holdings in Texas Pacific Land were worth $3,186,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TPL. Dimensional Fund Advisors LP raised 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 worth $92,632,000 after purchasing an additional 9,878 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Texas Pacific Land in the second quarter worth $296,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Texas Pacific Land by 30.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,117 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 260 shares in the last quarter. Intech Investment Management LLC increased its position in Texas Pacific Land by 77.6% during the 2nd quarter. Intech Investment Management LLC now owns 1,732 shares of the financial services provider’s stock valued at $1,272,000 after buying an additional 757 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Texas Pacific Land by 533.1% during the second quarter. Pacer Advisors Inc. now owns 5,090 shares of the financial services provider’s stock worth $3,737,000 after acquiring an additional 4,286 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have bought 81 shares of company stock worth $108,145. 6.50% of the stock is currently owned by insiders.

Texas Pacific Land Stock Up 1.2 %

Shares of Texas Pacific Land stock opened at $1,409.30 on Tuesday. The company has a 50 day moving average price of $1,324.97 and a 200 day moving average price of $1,061.41. The firm has a market capitalization of $32.39 billion, a P/E ratio of 72.31 and a beta of 1.68. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio (DPR) 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.