Financial Management Professionals Inc. Grows Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Financial Management Professionals Inc. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 201.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 524 shares of the financial services provider’s stock after buying an additional 350 shares during the period. Financial Management Professionals Inc.’s holdings in Texas Pacific Land were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TPL. GAMMA Investing LLC lifted its holdings in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 41 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at approximately $36,000. IFS Advisors LLC boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after buying an additional 44 shares during the period. Halpern Financial Inc. grew its stake in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after buying an additional 50 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in Texas Pacific Land during the 4th quarter valued at $50,000. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $734.27 on Friday. The company has a market capitalization of $16.88 billion, a PE ratio of 39.04 and a beta of 1.59. Texas Pacific Land Co. has a 52-week low of $429.56 and a 52-week high of $799.46. The business’s fifty day moving average is $643.61 and its 200 day moving average is $570.03.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.39. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. The firm had revenue of $174.14 million for the quarter, compared to analysts’ expectations of $158.20 million. On average, sell-side analysts forecast that Texas Pacific Land Co. will post 21.2 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a None dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $10.00 per share. The ex-dividend date is Monday, July 1st. Texas Pacific Land’s payout ratio is presently 24.88%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TPL shares. BWS Financial reiterated a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report on Friday, May 10th. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

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.