Victory Capital Management Inc. Buys 4,934 Shares of Texas Pacific Land Co. (NYSE:TPL)

Victory Capital Management Inc. increased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 51.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,617 shares of the financial services provider’s stock after acquiring an additional 4,934 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Texas Pacific Land worth $10,733,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TPL. Hendershot Investments Inc. boosted its position in shares of Texas Pacific Land by 7.8% during the second quarter. Hendershot Investments Inc. now owns 1,637 shares of the financial services provider’s stock worth $1,202,000 after purchasing an additional 119 shares in the last quarter. National Bank of Canada FI raised its stake in Texas Pacific Land by 3,070.7% during the 2nd quarter. National Bank of Canada FI now owns 2,378 shares of the financial services provider’s stock worth $1,740,000 after buying an additional 2,303 shares during the period. TD Asset Management Inc lifted its holdings in Texas Pacific Land by 14.4% during the second quarter. TD Asset Management Inc now owns 3,926 shares of the financial services provider’s stock worth $2,883,000 after acquiring an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Texas Pacific Land in the second quarter valued at about $2,840,000. Finally, Next Level Private LLC acquired a new stake in shares of Texas Pacific Land during the second quarter worth about $220,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $808.99 on Friday. The company’s 50-day moving average price is $814.43 and its two-hundred day moving average price is $684.47. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $881.12. The stock has a market capitalization of $18.59 billion, a PE ratio of 43.01 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the previous year, the company posted $4.35 EPS. On average, analysts anticipate that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors 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 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s payout ratio is currently 24.88%.

Analysts Set New Price Targets

TPL has been the topic of a number of research reports. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th. 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 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.