Compass Ion Advisors LLC Raises Stake in Texas Pacific Land Co. (NYSE:TPL)

Compass Ion Advisors LLC grew its holdings in Texas Pacific Land Co. (NYSE:TPL) by 200.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,239 shares of the financial services provider’s stock after buying an additional 5,493 shares during the period. Texas Pacific Land accounts for approximately 0.7% of Compass Ion Advisors LLC’s portfolio, making the stock its 22nd largest position. Compass Ion Advisors LLC’s holdings in Texas Pacific Land were worth $4,767,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in Texas Pacific Land by 103.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,580 shares of the financial services provider’s stock valued at $6,528,000 after buying an additional 1,819 shares during the period. FMR LLC boosted its holdings in Texas Pacific Land by 1,743.0% in the 3rd quarter. FMR LLC now owns 8,054 shares of the financial services provider’s stock valued at $14,687,000 after purchasing an additional 7,617 shares in the last quarter. Invesco Ltd. increased its position in Texas Pacific Land by 68.4% during the 3rd quarter. Invesco Ltd. now owns 13,973 shares of the financial services provider’s stock worth $25,481,000 after purchasing an additional 5,674 shares during the period. LPL Financial LLC raised its stake in shares of Texas Pacific Land by 6.2% during the 3rd quarter. LPL Financial LLC now owns 3,439 shares of the financial services provider’s stock worth $6,271,000 after buying an additional 201 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Texas Pacific Land by 11.5% in the 3rd quarter. Stifel Financial Corp now owns 4,718 shares of the financial services provider’s stock valued at $8,610,000 after buying an additional 486 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPL. BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Friday, May 10th. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Up 0.1 %

NYSE:TPL opened at $734.27 on Monday. The company has a market cap of $16.88 billion, a P/E ratio of 39.04 and a beta of 1.63. The firm’s 50 day moving average is $643.61 and its two-hundred day moving average is $570.34. Texas Pacific Land Co. has a fifty-two week low of $429.56 and a fifty-two week high of $799.46.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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. The business had revenue of $174.14 million for the quarter, compared to analyst estimates of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. Research analysts forecast that Texas Pacific Land Co. will post 21.2 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

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.