Exchange Traded Concepts LLC Purchases 162 Shares of Texas Pacific Land Co. (NYSE:TPL)

Exchange Traded Concepts LLC lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 75.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 378 shares of the financial services provider’s stock after acquiring an additional 162 shares during the period. Exchange Traded Concepts LLC’s holdings in Texas Pacific Land were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. BOKF NA lifted its position in shares of Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 17 shares during the period. CIBC Asset Management Inc lifted its holdings in Texas Pacific Land by 2.9% in the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after buying an additional 21 shares during the period. Accordant Advisory Group Inc boosted its position in Texas Pacific Land by 1.9% during the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 26 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Texas Pacific Land by 9.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 323 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 29 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of 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 worth $26,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.7 %

NYSE:TPL opened at $1,058.53 on Friday. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,077.25. The stock has a market capitalization of $24.34 billion, a price-to-earnings ratio of 56.27 and a beta of 1.60. The firm has a fifty day simple moving average of $893.34 and a two-hundred day simple moving average of $757.14.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 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 firm 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 business earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.88%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 target price 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.