Creative Planning Purchases 207 Shares of Texas Pacific Land Co. (NYSE:TPL)

Creative Planning boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 3.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,348 shares of the financial services provider’s stock after purchasing an additional 207 shares during the period. Creative Planning’s holdings in Texas Pacific Land were worth $4,661,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of 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 acquiring an additional 30 shares during the period. GAMMA Investing LLC grew its position 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 valued at $31,000 after acquiring an additional 41 shares during the period. American National Bank bought a new position in shares of Texas Pacific Land during the 2nd quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Pacific Land during the 2nd quarter valued at approximately $44,000. Finally, IFS Advisors LLC grew its position 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 valued at $38,000 after acquiring an additional 44 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

NYSE TPL opened at $970.46 on Friday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $975.00. The stock has a market capitalization of $22.30 billion, a PE ratio of 51.59 and a beta of 1.60. The company’s 50 day simple moving average is $842.35 and its two-hundred day simple moving average is $719.35.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $182.35 million. During the same quarter in the prior year, the company earned $4.35 earnings per share.

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 given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.88%.

Wall Street Analysts Forecast Growth

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