New Mexico Educational Retirement Board Purchases Shares of 3,800 Texas Pacific Land Co. (NYSE:TPL)

New Mexico Educational Retirement Board purchased a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,800 shares of the financial services provider's stock, valued at approximately $2,790,000.

A number of other hedge funds have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC raised 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 in the last quarter. IFS Advisors LLC raised its position in Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 44 shares in the last quarter. American National Bank bought a new position in Texas Pacific Land during the second quarter valued at approximately $42,000. Finally, Halpern Financial Inc. raised its position in 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 in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.7 %

Shares of Texas Pacific Land stock traded up $5.78 during trading on Friday, reaching $798.51. The company's stock had a trading volume of 64,447 shares, compared to its average volume of 81,535. The stock has a 50-day moving average price of $809.09 and a two-hundred day moving average price of $676.04. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $881.12. The stock has a market capitalization of $18.36 billion, a P/E ratio of 42.45 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results 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). The company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the previous year, the firm posted $4.35 earnings per share. As a group, sell-side analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TPL. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th. BWS Financial reissued a "buy" rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report 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.