Pacer Advisors Inc. Acquires 4,286 Shares of Texas Pacific Land Co. (NYSE:TPL)

Pacer Advisors Inc. boosted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 533.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,090 shares of the financial services provider's stock after buying an additional 4,286 shares during the period. Pacer Advisors Inc.'s holdings in Texas Pacific Land were worth $3,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of TPL. Dimensional Fund Advisors LP raised its position in Texas Pacific Land by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 35,480 shares of the financial services provider's stock valued at $55,798,000 after buying an additional 3,903 shares during the period. Franklin Resources Inc. raised its position in Texas Pacific Land by 10.9% during the fourth quarter. Franklin Resources Inc. now owns 2,040 shares of the financial services provider's stock valued at $3,208,000 after buying an additional 200 shares during the period. Advisory Services Network LLC raised its position in Texas Pacific Land by 28.7% during the fourth quarter. Advisory Services Network LLC now owns 354 shares of the financial services provider's stock valued at $557,000 after buying an additional 79 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Texas Pacific Land by 5.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,685 shares of the financial services provider's stock worth $4,222,000 after purchasing an additional 129 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Texas Pacific Land by 73.4% in the 4th quarter. Hsbc Holdings PLC now owns 6,340 shares of the financial services provider's stock worth $10,025,000 after purchasing an additional 2,683 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on TPL. StockNews.com lowered 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 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Stock Performance

Shares of TPL traded down $12.87 during trading hours on Wednesday, hitting $927.73. 122,978 shares of the company were exchanged, compared to its average volume of 105,298. The company has a market cap of $21.32 billion, a PE ratio of 50.04 and a beta of 1.60. The firm's 50 day moving average is $831.03 and its 200-day moving average is $705.18. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $959.50.

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 the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to the consensus estimate 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 last year, the company posted $4.35 EPS. As a group, equities analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.50%. Texas Pacific Land's dividend payout ratio (DPR) is presently 24.88%.

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.