Valeo Financial Advisors LLC Acquires New Holdings in Texas Pacific Land Co. (NYSE:TPL)

Valeo Financial Advisors LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 529 shares of the financial services provider’s stock, valued at approximately $468,000.

Other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. increased its holdings in Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 678 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Texas Pacific Land by 229.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock valued at $8,709,000 after buying an additional 10,483 shares during the last quarter. Van ECK Associates Corp boosted its position in Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after buying an additional 2,847 shares during the period. Sandbox Financial Partners LLC grew its holdings in Texas Pacific Land by 175.4% during the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after acquiring an additional 1,389 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock valued at $6,802,000 after acquiring an additional 7,476 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,066.19 on Tuesday. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,076.31. The firm’s fifty day moving average is $873.05 and its 200-day moving average is $744.97. The firm has a market cap of $24.50 billion, a P/E ratio of 54.85 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 earnings per share 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 in the previous year, the business posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.07%.

Analyst Ratings Changes

A number of brokerages have recently commented on TPL. 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. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

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.