Sumitomo Mitsui Trust Holdings Inc. Purchases 1,071 Shares of Texas Pacific Land Co. (NYSE:TPL)

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,671 shares of the financial services provider's stock after purchasing an additional 1,071 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.19% of Texas Pacific Land worth $32,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its position 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 purchasing an additional 30 shares during the period. GAMMA Investing LLC increased its position in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after buying an additional 41 shares during the period. IFS Advisors LLC lifted its stake in Texas Pacific Land by 200.0% in the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock valued at $38,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. boosted its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 50 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Pacific Land during the second quarter worth about $44,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Analyst Ratings Changes

TPL has been the subject of a number of analyst reports. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th. BWS Financial reissued a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Price Performance

Shares of NYSE TPL traded down $24.79 during midday trading on Tuesday, reaching $817.51. 50,904 shares of the company traded hands, compared to its average volume of 106,495. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 43.46 and a beta of 1.63. The stock has a 50-day moving average price of $787.03 and a 200 day moving average price of $644.12. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $854.66.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results 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 company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. During the same quarter last year, the firm posted $4.35 earnings per share. As a group, analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio 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.