Sanctuary Advisors LLC Purchases New Position in Texas Pacific Land Co. (NYSE:TPL)

Sanctuary Advisors LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,357 shares of the financial services provider’s stock, valued at approximately $996,000.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its holdings in 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 valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC grew its holdings in shares of Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 41 shares during the period. American National Bank purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $44,000. Finally, IFS Advisors LLC grew its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Stock Up 5.8 %

Shares of TPL opened at $1,060.23 on Friday. The business’s 50 day moving average price is $866.85 and its 200-day moving average price is $739.12. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,070.23. The stock has a market cap of $24.37 billion, a P/E ratio of 56.37 and a beta of 1.60.

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). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same period in the prior year, the firm earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.44%. Texas Pacific Land’s dividend payout ratio (DPR) 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.