Entropy Technologies LP Acquires New Shares in Texas Pacific Land Co. (NYSE:TPL)

Entropy Technologies LP bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,100 shares of the financial services provider’s stock, valued at approximately $973,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in Texas Pacific Land during the 3rd quarter worth approximately $25,000. American National Bank acquired a new position in shares of Texas Pacific Land during the second quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Pacific Land in the 2nd quarter valued at $44,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Texas Pacific Land during the third quarter valued at about $44,000. Finally, Signaturefd LLC grew its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,366.42 on Thursday. The firm has a market cap of $31.40 billion, a PE ratio of 70.11 and a beta of 1.56. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,421.22. The business’s 50 day moving average price is $1,026.79 and its two-hundred day moving average price is $835.20.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land’s dividend payout ratio is currently 24.01%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders purchased 108 shares of company stock worth $105,726. 6.50% of the stock is currently owned by company insiders.

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.