Vest Financial LLC Purchases 151 Shares of Texas Pacific Land Co. (NYSE:TPL)

Vest Financial LLC raised its position in Texas Pacific Land Co. (NYSE:TPL) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,621 shares of the financial services provider’s stock after buying an additional 151 shares during the quarter. Vest Financial LLC’s holdings in Texas Pacific Land were worth $1,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPL. Benjamin F. Edwards & Company Inc. raised its position in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 worth $31,000 after buying an additional 41 shares in the last quarter. American National Bank bought a new stake in shares of Texas Pacific Land during the 2nd quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land during the 2nd quarter worth $44,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Texas Pacific Land in the third quarter valued at about $44,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,058.53 on Monday. The firm’s fifty day moving average price is $893.34 and its two-hundred day moving average price is $757.14. The stock has a market cap of $24.33 billion, a PE ratio of 54.45 and a beta of 1.60. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,077.25.

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). 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 for the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the prior year, the firm earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.44%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th.

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.