Marietta Wealth Management LLC Makes New $2.93 Million Investment in Texas Pacific Land Co. (NYSE:TPL)

Marietta Wealth Management LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,985 shares of the financial services provider's stock, valued at approximately $2,926,000.

A number of other institutional investors have also modified their holdings of the business. Avantax Advisory Services Inc. increased its position in Texas Pacific Land by 204.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider's stock worth $584,000 after buying an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Texas Pacific Land by 229.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider's stock valued at $8,709,000 after purchasing an additional 10,483 shares during the last quarter. Van ECK Associates Corp lifted its position in Texas Pacific Land by 220.7% in the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider's stock valued at $2,393,000 after purchasing an additional 2,847 shares during the last quarter. Sandbox Financial Partners LLC boosted its stake in Texas Pacific Land by 175.4% during the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider's stock valued at $1,262,000 after purchasing an additional 1,389 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider's stock worth $6,802,000 after purchasing an additional 7,476 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BWS Financial reaffirmed a "buy" rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com downgraded Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th.

Texas Pacific Land Trading Down 0.9 %

TPL traded down $7.33 on Friday, reaching $821.49. The company had a trading volume of 62,496 shares, compared to its average volume of 94,624. The company has a market capitalization of $18.88 billion, a P/E ratio of 43.67 and a beta of 1.63. The company has a fifty day moving average of $783.63 and a 200-day moving average of $639.19. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $854.66.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.38). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter last year, the business earned $4.35 earnings per share. Research analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 24.88%.

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.