MetLife Investment Management LLC Sells 86 Shares of Texas Pacific Land Co. (NYSE:TPL)

MetLife Investment Management LLC trimmed its position in Texas Pacific Land Co. (NYSE:TPL) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,595 shares of the financial services provider’s stock after selling 86 shares during the period. MetLife Investment Management LLC’s holdings in Texas Pacific Land were worth $9,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Texas Pacific Land during the third quarter worth $25,000. American National Bank acquired a new stake in Texas Pacific Land during the 2nd quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Pacific Land during the second quarter worth about $44,000. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land in the third quarter valued at about $44,000. Finally, Quest Partners LLC bought a new stake in shares of Texas Pacific Land in the third quarter worth about $50,000. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

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

Texas Pacific Land Trading Up 4.1 %

TPL opened at $1,636.69 on Friday. The stock has a market capitalization of $37.61 billion, a P/E ratio of 83.98 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,769.14. The firm’s fifty day simple moving average is $1,164.84 and its 200 day simple moving average is $899.94.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.39%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s payout ratio is 24.01%.

Insider Transactions at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 111 shares of company stock valued at $120,905 over the last three months. Company insiders own 6.50% of the company’s stock.

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.