State of Alaska Department of Revenue Has $1.92 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

State of Alaska Department of Revenue lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,170 shares of the financial services provider’s stock after buying an additional 145 shares during the period. State of Alaska Department of Revenue’s holdings in Texas Pacific Land were worth $1,919,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. American National Bank bought a new position in Texas Pacific Land in the second quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Pacific Land in the 2nd quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA acquired a new stake in Texas Pacific Land during the 3rd quarter worth approximately $44,000. Signaturefd LLC grew its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in shares of Texas Pacific Land by 200.0% during the first quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 96 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $1,172.25 on Friday. The firm has a market cap of $26.94 billion, a P/E ratio of 60.30 and a beta of 1.60. The stock’s 50 day moving average is $949.96 and its 200 day moving average is $792.07. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,189.91.

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

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is 24.07%.

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.