Sei Investments Co. Increases Position in Texas Pacific Land Co. (NYSE:TPL)

Sei Investments Co. boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 14.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 901 shares of the financial services provider’s stock after acquiring an additional 112 shares during the period. Sei Investments Co.’s holdings in Texas Pacific Land were worth $662,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in shares of Texas Pacific Land by 200.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC grew its holdings in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares during the period. IFS Advisors LLC increased its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 44 shares during the last quarter. American National Bank purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth about $42,000. Finally, Halpern Financial Inc. grew its holdings in Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 1.4 %

TPL opened at $971.68 on Wednesday. The company has a 50 day moving average of $855.03 and a two-hundred day moving average of $732.16. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $995.71. The company has a market cap of $22.33 billion, a P/E ratio of 51.66 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last announced its quarterly 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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The company had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the prior year, the company posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is 24.88%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TPL. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note 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.