Blue Trust Inc. Grows Stake in Texas Pacific Land Co. (NYSE:TPL)

Blue Trust Inc. boosted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,176 shares of the financial services provider’s stock after purchasing an additional 2,333 shares during the quarter. Blue Trust Inc. owned approximately 0.08% of Texas Pacific Land worth $16,966,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of 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 worth $997,064,000 after purchasing an additional 8,155 shares during the last quarter. CWM LLC lifted its position in shares of Texas Pacific Land by 220.5% in the first quarter. CWM LLC now owns 141 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 97 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Texas Pacific Land by 200.0% in the first quarter. NBC Securities Inc. now owns 597 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 398 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Texas Pacific Land by 220.4% during the first quarter. Los Angeles Capital Management LLC now owns 10,929 shares of the financial services provider’s stock valued at $6,323,000 after acquiring an additional 7,518 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in 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 purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Trading Down 0.7 %

Shares of TPL opened at $1,058.54 on Friday. The firm has a market capitalization of $24.33 billion, a P/E ratio of 54.45 and a beta of 1.60. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,077.25. The stock’s fifty day simple moving average is $893.34 and its 200 day simple moving average is $755.87.

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 analysts’ consensus estimates of $5.36 by ($0.38). The company had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter last year, the business posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. The ex-dividend date of this dividend 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%.

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.