Victory Capital Management Inc. Boosts Holdings in Texas Pacific Land Co. (NYSE:TPL)

Victory Capital Management Inc. lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 51.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,617 shares of the financial services provider's stock after purchasing an additional 4,934 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Texas Pacific Land worth $10,733,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms recently commented on TPL. StockNews.com cut shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research report 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.

Texas Pacific Land Stock Up 1.8 %

NYSE TPL traded up $14.30 on Friday, hitting $808.99. The company's stock had a trading volume of 45,169 shares, compared to its average volume of 72,084. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $881.12. The company's 50-day moving average is $814.43 and its 200 day moving average is $685.68. The firm has a market cap of $18.59 billion, a PE ratio of 43.01 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly 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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The business had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same quarter last year, the company posted $4.35 earnings per share. On average, equities analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders 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 0.58%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio (DPR) is 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.