Oak Thistle LLC Acquires New Shares in Texas Pacific Land Co. (NYSE:TPL)

Oak Thistle LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the second quarter, according to its most recent filing with the SEC. The fund acquired 602 shares of the financial services provider’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. NEOS Investment Management LLC boosted its holdings in shares of Texas Pacific Land by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 7 shares in the last quarter. Balentine LLC boosted its holdings in shares of Texas Pacific Land by 3.7% in the 4th quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 10 shares in the last quarter. Meridian Management Co. boosted its holdings in shares of Texas Pacific Land by 0.8% in the 4th quarter. Meridian Management Co. now owns 1,393 shares of the financial services provider’s stock worth $2,042,000 after purchasing an additional 11 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Texas Pacific Land by 3.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 605 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 18 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Texas Pacific Land by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 21 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $792.90 on Tuesday. The stock has a market capitalization of $18.22 billion, a PE ratio of 42.15 and a beta of 1.60. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $881.12. The business has a 50-day moving average of $810.46 and a 200 day moving average of $677.95.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter in the prior year, the company earned $4.35 earnings per share. Analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.88%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a report 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.