Pacer Advisors Inc. Boosts Stock Ownership in Texas Pacific Land Co. (NYSE:TPL)
Pacer Advisors Inc. significantly increased its stake in Texas Pacific Land Co. (NYSE:TPL) by 102.6% in the third quarter, according to their latest filing with the SEC. The fund now holds 10,313 shares of the company’s stock, valued at $9,124,000 as of their most recent filing.
Other hedge funds have also made moves with TPL recently. Capital Performance Advisors LLP, Compagnie Lombard Odier SCmA, Quest Partners LLC, American National Bank, and Thurston Springer Miller Herd & Titak Inc. all purchased various amounts of shares in Texas Pacific Land.
Shares of TPL stock saw a 14.2% increase on Friday, reaching $1,730.00. The company has a 1-year low of $467.62 and a high of $1,749.44, with a market capitalization of $39.76 billion. TPL also recently announced an increased quarterly dividend of $1.60 per share.
In insider news, CAO Stephanie Buffington recently sold 210 shares of TPL stock. This sale was part of a trend, with company insiders collectively purchasing 117 shares over the past three months. Insiders now own 6.50% of the company’s stock.
Texas Pacific Land Corporation is primarily focused on land management, resource management, and water services. The company holds substantial oil and gas royalty interests over acres of land in Texas.
While TPL currently has a “Moderate Buy” rating, some top-rated analysts are recommending other stocks as better buys. Keep an eye on the market to stay informed!
