Mutual of America Capital Management LLC bought a new stake in Texas Pacific Land Co. (NYSE:TPL – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,660 shares of the financial services provider’s stock, valued at approximately $7,827,000.
A number of other institutional investors have also modified their holdings of TPL. Benjamin F. Edwards & Company Inc. grew its position in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC grew its position 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 last quarter. American National Bank purchased a new position in Texas Pacific Land in the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land in the 2nd quarter valued at $44,000. Finally, IFS Advisors LLC grew its position in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after buying an additional 44 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.
Texas Pacific Land Stock Performance
Shares of NYSE TPL opened at $915.66 on Friday. The firm has a market capitalization of $21.04 billion, a P/E ratio of 48.68 and a beta of 1.60. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $925.15. The company’s fifty day moving average is $820.78 and its two-hundred day moving average is $691.70.
Texas Pacific Land Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.51%. Texas Pacific Land’s payout ratio is currently 24.88%.
Wall Street Analysts Forecast Growth
TPL has been the topic of a number of analyst reports. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research 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 research report on Monday, August 12th.
View Our Latest Stock Report on TPL
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.
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