Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 85.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,025 shares of the financial services provider's stock after buying an additional 934 shares during the quarter. Legacy Capital Wealth Partners LLC's holdings in Texas Pacific Land were worth $1,792,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $25,000. American National Bank acquired a new position in Texas Pacific Land in the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land in the 2nd quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $44,000. Finally, Signaturefd LLC raised its position in shares of Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after buying an additional 13 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 2.9 %

TPL stock traded up $38.75 during mid-day trading on Friday, hitting $1,374.06. 164,195 shares of the company were exchanged, compared to its average volume of 97,006. The business has a fifty day simple moving average of $993.11 and a 200-day simple moving average of $818.45. The firm has a market capitalization of $31.58 billion, a P/E ratio of 70.50 and a beta of 1.56. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,417.72.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. The firm had revenue of $172.33 million during the quarter, compared to analysts' expectations of $182.35 million. During the same period in the previous year, the firm earned $4.35 EPS.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land's dividend payout ratio (DPR) is presently 24.01%.

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a research note 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.