Brown Brothers Harriman & Co. Acquires 636 Shares of Texas Pacific Land Co. (NYSE:TPL)

Brown Brothers Harriman & Co. grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 14.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,103 shares of the financial services provider’s stock after purchasing an additional 636 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Texas Pacific Land were worth $3,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TPL. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Texas Pacific Land by 200.0% during 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. GAMMA Investing LLC grew its holdings in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 41 shares during the last quarter. IFS Advisors LLC raised its position in shares of Texas Pacific Land by 200.0% in the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the period. American National Bank acquired a new stake in shares of Texas Pacific Land in the second quarter worth $42,000. Finally, Halpern Financial Inc. boosted its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $838.61 on Tuesday. The firm’s 50-day moving average is $816.20 and its 200-day moving average is $687.88. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $881.12. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 44.58 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last posted its quarterly 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 period last year, the company earned $4.35 EPS. Equities analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.56%. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

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.