Magnolia Capital Advisors LLC Invests $131.01 Million in Texas Pacific Land Co. (NYSE:TPL)

Magnolia Capital Advisors LLC acquired a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 178,428 shares of the financial services provider's stock, valued at approximately $131,014,000. Texas Pacific Land accounts for about 4.6% of Magnolia Capital Advisors LLC's portfolio, making the stock its 5th largest holding. Magnolia Capital Advisors LLC owned approximately 0.78% of Texas Pacific Land as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of 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 worth $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after purchasing an additional 41 shares during the last quarter. IFS Advisors LLC lifted its holdings in shares of Texas Pacific Land by 200.0% in the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. American National Bank purchased a new position in shares of Texas Pacific Land during the second quarter valued at approximately $42,000. Finally, Halpern Financial Inc. grew its holdings 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 worth $44,000 after buying an additional 50 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Up 1.5 %

Shares of TPL traded up $13.18 on Friday, reaching $887.08. 62,941 shares of the company's stock traded hands, compared to its average volume of 105,051. The stock's 50 day simple moving average is $835.81 and its two-hundred day simple moving average is $711.75. The stock has a market cap of $20.39 billion, a PE ratio of 47.16 and a beta of 1.60. 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 earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts' consensus estimates of $5.36 by ($0.38). The business 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 in the previous year, the firm earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is currently 24.88%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BWS Financial reaffirmed a "buy" rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th.

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.