Sage Capital Advisors llc Takes $221,000 Position in Texas Pacific Land Co. (NYSE:TPL)

Sage Capital Advisors llc bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 200 shares of the financial services provider’s stock, valued at approximately $221,000.

Several other hedge funds have also recently bought and sold shares of the stock. TD Asset Management Inc lifted its position in Texas Pacific Land by 14.4% in the 2nd quarter. TD Asset Management Inc now owns 3,926 shares of the financial services provider’s stock valued at $2,883,000 after acquiring an additional 495 shares in the last quarter. National Bank of Canada FI lifted its position in Texas Pacific Land by 3,070.7% during the 2nd quarter. National Bank of Canada FI now owns 2,378 shares of the financial services provider’s stock worth $1,740,000 after buying an additional 2,303 shares in the last quarter. Victory Capital Management Inc. boosted its position in Texas Pacific Land by 51.0% during the second quarter. Victory Capital Management Inc. now owns 14,617 shares of the financial services provider’s stock valued at $10,733,000 after purchasing an additional 4,934 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Texas Pacific Land by 4.8% during the 2nd quarter. Private Advisor Group LLC now owns 3,630 shares of the financial services provider’s stock worth $2,665,000 after purchasing an additional 166 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Texas Pacific Land during the 2nd quarter worth approximately $1,216,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have bought 90 shares of company stock valued at $116,844. 6.50% of the stock is owned by insiders.

Texas Pacific Land Price Performance

NYSE TPL traded up $22.79 on Friday, hitting $1,298.73. 75,497 shares of the stock were exchanged, compared to its average volume of 139,165. The business’s fifty day moving average is $1,315.98 and its 200 day moving average is $1,026.90. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,769.14. The company has a market capitalization of $29.84 billion, a PE ratio of 66.64 and a beta of 1.68.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is currently 32.84%.

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.