Janney Montgomery Scott LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 14,611 shares of the financial services provider’s stock, valued at approximately $12,928,000.
Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Texas Pacific Land by 522.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 622 shares during the period. Nordea Investment Management AB raised its holdings in Texas Pacific Land by 200.0% during the 1st quarter. Nordea Investment Management AB now owns 813 shares of the financial services provider’s stock worth $466,000 after buying an additional 542 shares during the period. Daiwa Securities Group Inc. lifted its stake in Texas Pacific Land by 200.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,347 shares of the financial services provider’s stock valued at $779,000 after buying an additional 898 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Texas Pacific Land by 361.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 309 shares of the financial services provider’s stock valued at $179,000 after buying an additional 242 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Texas Pacific Land by 605.6% in the first quarter. SG Americas Securities LLC now owns 1,397 shares of the financial services provider’s stock valued at $808,000 after buying an additional 1,199 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.
Texas Pacific Land Stock Performance
NYSE TPL opened at $1,330.35 on Thursday. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 63.95 and a beta of 1.56. The stock’s 50 day moving average price is $964.56 and its two-hundred day moving average price is $804.02. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,360.06.
Wall Street Analysts Forecast Growth
Separately, BWS Financial reaffirmed a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.
View Our Latest Stock Report on Texas Pacific Land
Texas Pacific Land Company 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.
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