Nisa Investment Advisors LLC Increases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Nisa Investment Advisors LLC increased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 505.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,743 shares of the financial services provider’s stock after purchasing an additional 3,125 shares during the period. Nisa Investment Advisors LLC’s holdings in Texas Pacific Land were worth $2,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MONECO Advisors LLC purchased a new stake in shares of Texas Pacific Land in the second quarter valued at $245,000. Marietta Wealth Management LLC purchased a new stake in shares of Texas Pacific Land in the second quarter valued at $2,926,000. OFI Invest Asset Management purchased a new stake in shares of Texas Pacific Land in the second quarter valued at $1,628,000. Accordant Advisory Group Inc grew its position in shares of Texas Pacific Land by 1.9% in 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 purchasing an additional 26 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Texas Pacific Land by 2.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 43,671 shares of the financial services provider’s stock valued at $32,066,000 after purchasing an additional 1,071 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPL. BWS Financial reiterated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a 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 Down 2.9 %

Shares of Texas Pacific Land stock opened at $817.51 on Wednesday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $854.66. The stock has a market capitalization of $18.79 billion, a P/E ratio of 43.46 and a beta of 1.63. The business’s fifty day moving average price is $787.03 and its 200 day moving average price is $644.12.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $4.35 EPS. As a group, sell-side analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is presently 24.88%.

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.