Quarry LP Acquires 111 Shares of Texas Pacific Land Co. (NYSE:TPL)

Quarry LP grew its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1,110.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121 shares of the financial services provider’s stock after purchasing an additional 111 shares during the period. Quarry LP’s holdings in Texas Pacific Land were worth $89,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its stake in 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 valued at $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Texas Pacific Land by 315.4% in 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 during the last quarter. IFS Advisors LLC raised its holdings in Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 44 shares in the last quarter. American National Bank acquired a new position in Texas Pacific Land during the second quarter valued at approximately $42,000. Finally, Halpern Financial Inc. grew its stake in Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

TPL has been the subject of several recent analyst reports. BWS Financial reissued a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Stock Up 1.7 %

Shares of NYSE TPL opened at $929.93 on Thursday. The business’s 50 day moving average price is $842.35 and its two-hundred day moving average price is $719.35. The company has a market cap of $21.37 billion, a PE ratio of 49.44 and a beta of 1.60. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $959.50.

Texas Pacific Land (NYSE:TPL) last posted its 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). 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 for the quarter, compared to analyst estimates of $182.35 million. During the same period in the previous year, the firm posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio 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.