Acadian Asset Management LLC Takes $1.22 Million Position in Texas Pacific Land Co. (NYSE:TPL)

Acadian Asset Management LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,658 shares of the financial services provider’s stock, valued at approximately $1,216,000.

A number of other large investors have also made changes to their positions in TPL. Jump Financial LLC grew its position in shares of Texas Pacific Land by 53.4% in the fourth quarter. Jump Financial LLC now owns 339 shares of the financial services provider’s stock valued at $533,000 after purchasing an additional 118 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Texas Pacific Land by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 35,480 shares of the financial services provider’s stock valued at $55,798,000 after acquiring an additional 3,903 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Texas Pacific Land by 143.9% in the fourth quarter. Panagora Asset Management Inc. now owns 1,283 shares of the financial services provider’s stock valued at $2,017,000 after acquiring an additional 757 shares during the last quarter. Balentine LLC lifted its holdings in Texas Pacific Land by 3.7% in the fourth quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock valued at $437,000 after acquiring an additional 10 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Texas Pacific Land by 10.9% in the fourth quarter. Franklin Resources Inc. now owns 2,040 shares of the financial services provider’s stock valued at $3,208,000 after acquiring an additional 200 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Stock Up 1.8 %

NYSE:TPL opened at $808.99 on Monday. The stock’s fifty day moving average is $814.43 and its two-hundred day moving average is $685.68. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $881.12. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 43.01 and a beta of 1.60.

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

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend 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%.

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.