CIBC Asset Management Inc Has $555,000 Stake in Texas Pacific Land Co. (NYSE:TPL)

CIBC Asset Management Inc grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 756 shares of the financial services provider’s stock after acquiring an additional 21 shares during the period. CIBC Asset Management Inc’s holdings in Texas Pacific Land were worth $555,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC grew its stake in Texas Pacific Land by 11.1% during the fourth quarter. Private Advisor Group LLC now owns 1,048 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 105 shares during the period. Maryland State Retirement & Pension System grew its position in shares of Texas Pacific Land by 7.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 480 shares of the financial services provider’s stock worth $755,000 after buying an additional 35 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Texas Pacific Land by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,776 shares of the financial services provider’s stock valued at $67,263,000 after acquiring an additional 2,376 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Texas Pacific Land by 5.0% during the 4th quarter. AGF Management Ltd. now owns 1,501 shares of the financial services provider’s stock valued at $2,360,000 after acquiring an additional 71 shares during the period. Finally, Jump Financial LLC lifted its position in shares of Texas Pacific Land by 53.4% during the 4th quarter. Jump Financial LLC now owns 339 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 118 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 0.7 %

NYSE TPL opened at $798.51 on Friday. The company has a market cap of $18.36 billion, a P/E ratio of 42.45 and a beta of 1.60. The company has a fifty day simple moving average of $809.09 and a 200 day simple moving average of $674.86. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $881.12.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same period last year, the business posted $4.35 earnings per share. Sell-side analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TPL. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial reaffirmed a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land 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.