Ritholtz Wealth Management Increases Position in Texas Pacific Land Co. (NYSE:TPL)

Ritholtz Wealth Management lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 26.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 750 shares of the financial services provider’s stock after buying an additional 155 shares during the quarter. Ritholtz Wealth Management’s holdings in Texas Pacific Land were worth $664,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC lifted its position in shares of Texas Pacific Land by 78.6% in the fourth quarter. Virtu Financial LLC now owns 368 shares of the financial services provider’s stock valued at $578,000 after acquiring an additional 162 shares in the last quarter. Vanguard Group Inc. raised its stake in Texas Pacific Land by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 634,083 shares of the financial services provider’s stock valued at $997,064,000 after purchasing an additional 8,155 shares during the period. CWM LLC lifted its holdings in Texas Pacific Land by 220.5% in the 1st quarter. CWM LLC now owns 141 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 97 shares in the last quarter. NBC Securities Inc. boosted its stake in Texas Pacific Land by 200.0% in the 1st quarter. NBC Securities Inc. now owns 597 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 398 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Texas Pacific Land by 220.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 10,929 shares of the financial services provider’s stock valued at $6,323,000 after buying an additional 7,518 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial reissued a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Price Performance

Shares of TPL opened at $1,036.67 on Wednesday. The stock has a market capitalization of $23.83 billion, a price-to-earnings ratio of 55.11 and a beta of 1.60. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,076.31. The business’s 50 day simple moving average is $878.33 and its 200-day simple moving average is $748.19.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results 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 net margin of 66.71% and a return on equity of 41.29%. The business had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. During the same period in the previous year, the company earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.45%. Texas Pacific Land’s dividend payout ratio is currently 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.