3,868 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,868 shares of the financial services provider's stock, valued at approximately $2,840,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Texas Pacific Land by 199.8% during the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock worth $1,099,867,000 after purchasing an additional 1,267,123 shares during the period. Pacific Heights Asset Management LLC lifted its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider's stock worth $95,454,000 after acquiring an additional 110,000 shares during the period. Bank of New York Mellon Corp lifted its position in Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock worth $149,920,000 after acquiring an additional 86,975 shares in the last quarter. Mad River Investors boosted its holdings in Texas Pacific Land by 199.2% in the 1st quarter. Mad River Investors now owns 100,121 shares of the financial services provider's stock worth $57,921,000 after acquiring an additional 66,663 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Texas Pacific Land by 1,541.2% during the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider's stock valued at $47,228,000 after purchasing an additional 60,400 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded up $5.78 during midday trading on Friday, reaching $798.51. 64,150 shares of the company traded hands, compared to its average volume of 104,641. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $881.12. The stock's 50-day simple moving average is $807.80 and its 200-day simple moving average is $671.57. The firm has a market cap of $18.35 billion, a PE ratio of 42.14 and a beta of 1.60.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.36 by ($0.38). The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same period in the prior year, the firm earned $4.35 earnings per share. On average, equities research analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land's payout ratio is presently 24.88%.

Analyst Ratings Changes

TPL has been the topic of several analyst reports. StockNews.com downgraded shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th. BWS Financial restated a "buy" rating and set a $917.00 price objective 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.