Mackenzie Financial Corp Buys 330 Shares of Texas Pacific Land Co. (NYSE:TPL)

Mackenzie Financial Corp boosted its stake in Texas Pacific Land Co. (NYSE:TPL) by 43.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096 shares of the financial services provider’s stock after buying an additional 330 shares during the quarter. Mackenzie Financial Corp’s holdings in Texas Pacific Land were worth $805,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its stake 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Texas Pacific Land by 229.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock valued at $8,709,000 after buying an additional 10,483 shares in the last quarter. Van ECK Associates Corp grew its stake in Texas Pacific Land by 220.7% during the first quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after buying an additional 2,847 shares during the last quarter. Sandbox Financial Partners LLC increased its holdings in shares of Texas Pacific Land by 175.4% during the first quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after buying an additional 1,389 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Texas Pacific Land by 174.6% in the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock valued at $6,802,000 after acquiring an additional 7,476 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TPL has been the topic of a number of research analyst reports. BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th.

Texas Pacific Land Trading Up 1.1 %

Shares of NYSE TPL opened at $981.37 on Friday. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $990.84. The company has a 50-day moving average of $845.61 and a two-hundred day moving average of $721.09. The company has a market cap of $22.55 billion, a PE ratio of 52.17 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million during 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 last year, the firm earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.48%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is 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.