244 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 244 shares of the financial services provider’s stock, valued at approximately $179,000.

Other institutional investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 41 shares in the last quarter. IFS Advisors LLC raised its position in shares of Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 44 shares during the last quarter. American National Bank purchased a new position in shares of Texas Pacific Land in the 2nd quarter worth about $42,000. Finally, Halpern Financial Inc. boosted its stake in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 50 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $838.61 on Tuesday. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of 44.58 and a beta of 1.60. The business has a 50-day simple moving average of $816.20 and a two-hundred day simple moving average of $687.88. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $881.12.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data 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 company had revenue of $172.33 million for the quarter, compared to the consensus estimate 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 last year, the company earned $4.35 EPS. As a group, research analysts predict that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land’s payout ratio is currently 24.88%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TPL. BWS Financial reaffirmed a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

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.