Amalgamated Bank Has $7.10 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Amalgamated Bank lifted its stake in Texas Pacific Land Co. (NYSE:TPL) by 691.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,668 shares of the financial services provider’s stock after purchasing an additional 8,447 shares during the quarter. Amalgamated Bank’s holdings in Texas Pacific Land were worth $7,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. boosted its position in shares of Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Texas Pacific Land by 229.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after acquiring an additional 10,483 shares during the period. Van ECK Associates Corp boosted its position in Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after acquiring an additional 2,847 shares during the period. Sandbox Financial Partners LLC boosted its position in Texas Pacific Land by 175.4% during the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after acquiring an additional 1,389 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Texas Pacific Land by 174.6% during the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after acquiring an additional 7,476 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL opened at $915.66 on Friday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $925.15. The business has a 50-day moving average of $820.78 and a 200-day moving average of $691.70. The company has a market capitalization of $21.04 billion, a PE ratio of 48.68 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results 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 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 analysts’ expectations of $182.35 million. During the same period last year, the business earned $4.35 earnings per share. On average, equities research analysts expect that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

Analyst Ratings Changes

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

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.