Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Cim LLC

Cim LLC raised its position in Texas Pacific Land Co. (NYSE:TPL) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,895 shares of the financial services provider’s stock after purchasing an additional 131 shares during the quarter. Cim LLC’s holdings in Texas Pacific Land were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Texas Pacific Land by 199.8% during the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after acquiring an additional 1,267,123 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in Texas Pacific Land in the second quarter worth about $131,014,000. Bank of New York Mellon Corp grew its position in Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after buying an additional 86,975 shares in the last quarter. Mad River Investors grew its position in Texas Pacific Land by 199.2% in the 1st quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock valued at $57,921,000 after buying an additional 66,663 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock valued at $47,228,000 after buying an additional 60,400 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TPL. BWS Financial reaffirmed a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Stock Performance

NYSE TPL opened at $914.34 on Wednesday. The firm’s 50 day moving average price is $839.62 and its two-hundred day moving average price is $717.86. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $959.50. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 48.61 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last issued 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). The business had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter in the prior year, the firm posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 annualized dividend 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 is currently 24.88%.

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.