Balentine LLC Makes New Investment in Texas Pacific Land Co. (NYSE:TPL)

Balentine LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 503 shares of the financial services provider's stock, valued at approximately $445,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Texas Pacific Land by 522.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 622 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Texas Pacific Land by 198.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,600 shares of the financial services provider's stock worth $24,645,000 after buying an additional 28,329 shares during the period. Private Advisor Group LLC lifted its stake in Texas Pacific Land by 230.5% in the first quarter. Private Advisor Group LLC now owns 3,464 shares of the financial services provider's stock valued at $2,004,000 after buying an additional 2,416 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Texas Pacific Land by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 11,040 shares of the financial services provider's stock valued at $6,387,000 after buying an additional 8,054 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Texas Pacific Land by 200.0% during the first quarter. Nordea Investment Management AB now owns 813 shares of the financial services provider's stock worth $466,000 after acquiring an additional 542 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

NYSE TPL traded up $87.20 during trading on Wednesday, hitting $1,330.35. The stock had a trading volume of 204,743 shares, compared to its average volume of 103,242. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,360.06. The company's 50-day moving average price is $964.56 and its two-hundred day moving average price is $804.02. The company has a market capitalization of $30.57 billion, a PE ratio of 63.95 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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 return on equity of 41.29% and a net margin of 66.71%. The business 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 firm earned $4.35 EPS.

Analyst Ratings Changes

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.

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.