Mesirow Financial Investment Management Inc. Purchases New Holdings in Texas Pacific Land Co. (NYSE:TPL)

Mesirow Financial Investment Management Inc. acquired a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 286 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other large investors also recently added to or reduced their stakes in TPL. Vanguard Group Inc. raised its position in Texas Pacific Land by 199.8% during 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 buying an additional 1,267,123 shares during the period. Bank of New York Mellon Corp lifted its position in shares of 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 worth $149,920,000 after purchasing an additional 86,975 shares in the last quarter. Pacific Heights Asset Management LLC boosted its holdings 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 purchasing an additional 110,000 shares during the period. Dimensional Fund Advisors LP grew its position in 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 valued at $92,632,000 after purchasing an additional 9,878 shares in the last quarter. Finally, Mad River Investors increased its stake in Texas Pacific Land by 199.2% in the 1st quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock valued at $57,921,000 after buying an additional 66,663 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TPL shares. BWS Financial restated 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 Stock Up 4.2 %

NYSE TPL opened at $873.51 on Wednesday. The company has a 50 day moving average price of $816.20 and a two-hundred day moving average price of $687.88. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $881.12. The stock has a market capitalization of $20.08 billion, a PE ratio of 46.44 and a beta of 1.60.

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 (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 business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the prior year, the company posted $4.35 earnings per share. As a group, equities analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed 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. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is 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.