Tobam Raises Stake in Texas Pacific Land Co. (NYSE:TPL)

Tobam lifted its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 393.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,517 shares of the financial services provider's stock after purchasing an additional 3,601 shares during the period. Tobam's holdings in Texas Pacific Land were worth $2,613,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Texas Pacific Land during the fourth quarter valued at about $36,000. CVA Family Office LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $50,000. Signaturefd LLC grew its position in shares of Texas Pacific Land by 30.8% in the 4th quarter. Signaturefd LLC now owns 34 shares of the financial services provider's stock worth $53,000 after buying an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock worth $26,000 after acquiring an additional 30 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TPL shares. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th. BWS Financial reaffirmed a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Friday, May 10th.

Texas Pacific Land Stock Performance

TPL stock traded down $0.26 during trading on Friday, reaching $747.54. The company had a trading volume of 76,260 shares, compared to its average volume of 313,899. The company has a market cap of $17.19 billion, a price-to-earnings ratio of 39.74 and a beta of 1.63. Texas Pacific Land Co. has a twelve month low of $429.56 and a twelve month high of $799.46. The firm has a 50-day simple moving average of $658.72 and a 200-day simple moving average of $577.54.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 EPS for the quarter, topping the consensus estimate of $4.58 by $0.39. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. The business had revenue of $174.14 million during the quarter, compared to the consensus estimate of $158.20 million. Sell-side analysts expect that Texas Pacific Land Co. will post 21.2 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The company also recently declared a None dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $10.00 per share. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land's payout ratio is presently 24.88%.

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.