Entropy Technologies LP Makes New $973,000 Investment in Texas Pacific Land Co. (NYSE:TPL)

Entropy Technologies LP bought a new position in shares of Texas Pacific Land Co. (NYSE:TPLFree Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,100 shares of the financial services provider’s stock, valued at approximately $973,000.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares during the period. First Financial Bankshares Inc grew its holdings in shares of Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 16 shares in the last quarter. BOKF NA increased its position in shares of Texas Pacific Land by 1.1% in the second quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 17 shares during the period. CIBC Asset Management Inc raised its stake in Texas Pacific Land by 2.9% in the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 21 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its stake in Texas Pacific Land by 1.9% during the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 26 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Down 2.9 %

Shares of TPL stock opened at $1,366.42 on Thursday. The business has a fifty day simple moving average of $1,026.79 and a 200 day simple moving average of $835.20. The company has a market cap of $31.40 billion, a P/E ratio of 70.11 and a beta of 1.56. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,421.22.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 dividend yield of 0.47%. Texas Pacific Land’s payout ratio is 24.01%.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business’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 owns 584 shares of the company’s stock, valued at approximately $810,784.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 108 shares of company stock worth $105,726 in the last three months. 6.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Read Our Latest Report on TPL

Texas Pacific Land Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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