Choreo LLC Buys 344 Shares of Texas Pacific Land Co. (NYSE:TPL)

Choreo LLC raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 200.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516 shares of the financial services provider’s stock after buying an additional 344 shares during the period. Choreo LLC’s holdings in Texas Pacific Land were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Tobam boosted its position in shares of Texas Pacific Land by 393.1% during the first quarter. Tobam now owns 4,517 shares of the financial services provider’s stock valued at $2,613,000 after buying an additional 3,601 shares during the period. Moloney Securities Asset Management LLC boosted its position in shares of Texas Pacific Land by 200.0% during the first quarter. Moloney Securities Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $340,000 after buying an additional 392 shares during the period. Hunter Associates Investment Management LLC boosted its position in shares of Texas Pacific Land by 152.9% during the first quarter. Hunter Associates Investment Management LLC now owns 6,141 shares of the financial services provider’s stock valued at $3,553,000 after buying an additional 3,713 shares during the period. Cross Staff Investments Inc boosted its position in shares of Texas Pacific Land by 199.6% during the first quarter. Cross Staff Investments Inc now owns 731 shares of the financial services provider’s stock valued at $423,000 after buying an additional 487 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Texas Pacific Land by 269.7% during the first quarter. Janney Montgomery Scott LLC now owns 11,040 shares of the financial services provider’s stock valued at $6,387,000 after buying an additional 8,054 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.9 %

Shares of NYSE TPL traded up $6.55 during trading hours on Monday, reaching $754.09. The stock had a trading volume of 12,133 shares, compared to its average volume of 108,172. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 39.73 and a beta of 1.63. The business’s fifty day moving average price is $658.72 and its two-hundred day moving average price is $577.54. Texas Pacific Land Co. has a 52-week low of $446.00 and a 52-week high of $799.46.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. The firm had revenue of $174.14 million during the quarter, compared to analyst estimates of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. Equities research analysts anticipate that Texas Pacific Land Co. will post 21.2 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently announced a None dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $10.00 per share. The ex-dividend date is Monday, July 1st. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Wall Street Analyst Weigh In

TPL has been the subject of several recent analyst reports. BWS Financial restated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Friday, May 10th. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th.

About Texas Pacific Land

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.