Bridges Investment Management Inc. Has $9.64 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Bridges Investment Management Inc. lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 257.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,128 shares of the financial services provider's stock after buying an additional 9,453 shares during the quarter. Bridges Investment Management Inc. owned about 0.06% of Texas Pacific Land worth $9,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. NEOS Investment Management LLC increased its position in Texas Pacific Land by 5.0% during the 4th quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider's stock worth $231,000 after buying an additional 7 shares during the period. Meridian Management Co. increased its position in Texas Pacific Land by 0.8% during the fourth quarter. Meridian Management Co. now owns 1,393 shares of the financial services provider's stock worth $2,042,000 after acquiring an additional 11 shares during the period. BOKF NA raised its stake in Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider's stock worth $1,154,000 after purchasing an additional 17 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Texas Pacific Land by 3.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 605 shares of the financial services provider's stock worth $951,000 after purchasing an additional 18 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Texas Pacific Land by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider's stock valued at $555,000 after purchasing an additional 21 shares during the period. 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 stock. StockNews.com downgraded shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th. BWS Financial reaffirmed 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 Trading Up 2.2 %

TPL stock traded up $19.74 during mid-day trading on Friday, hitting $935.40. The stock had a trading volume of 315,652 shares, compared to its average volume of 105,130. The firm has a fifty day simple moving average of $823.41 and a 200 day simple moving average of $693.25. The firm has a market capitalization of $21.50 billion, a P/E ratio of 49.18 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $941.63.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $4.35 earnings per share. As a group, equities analysts expect that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio (DPR) is currently 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.