Toronto Dominion Bank Purchases 851 Shares of Texas Pacific Land Co. (NYSE:TPL)

Toronto Dominion Bank boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 52.2% during the second quarter, HoldingsChannel.com reports. The fund owned 2,480 shares of the financial services provider’s stock after buying an additional 851 shares during the quarter. Toronto Dominion Bank’s holdings in Texas Pacific Land were worth $1,821,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after acquiring an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after acquiring an additional 86,975 shares during the last quarter. Pacific Heights Asset Management LLC grew its stake in shares of Texas Pacific Land by 200.0% during the first quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider’s stock worth $95,454,000 after buying an additional 110,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Texas Pacific Land by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after buying an additional 9,878 shares during the last quarter. Finally, Mad River Investors grew its stake in shares of Texas Pacific Land by 199.2% during the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after buying an additional 66,663 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on TPL shares. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. 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 Stock Performance

Shares of NYSE:TPL opened at $887.08 on Monday. The firm has a market cap of $20.39 billion, a PE ratio of 47.16 and a beta of 1.60. The firm’s fifty day moving average is $835.81 and its 200-day moving average is $712.98. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $959.50.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results 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 business 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 last year, the firm posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.53%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

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.