6,892 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by APG Asset Management N.V.

APG Asset Management N.V. bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,892 shares of the financial services provider's stock, valued at approximately $4,722,000.

Several other large investors have also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of Texas Pacific Land by 751.4% during the second quarter. AQR Capital Management LLC now owns 35,759 shares of the financial services provider's stock valued at $26,257,000 after purchasing an additional 31,559 shares during the last quarter. AXA S.A. raised its holdings in Texas Pacific Land by 272.0% in the 2nd quarter. AXA S.A. now owns 5,926 shares of the financial services provider's stock worth $4,351,000 after acquiring an additional 4,333 shares during the last quarter. Toronto Dominion Bank raised its holdings in Texas Pacific Land by 52.2% in the 2nd quarter. Toronto Dominion Bank now owns 2,480 shares of the financial services provider's stock worth $1,821,000 after acquiring an additional 851 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Texas Pacific Land by 70.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,745 shares of the financial services provider's stock worth $2,750,000 after acquiring an additional 1,549 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Texas Pacific Land by 21.6% in the 2nd quarter. Bank of Montreal Can now owns 6,419 shares of the financial services provider's stock worth $4,871,000 after acquiring an additional 1,141 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $2.68 during midday trading on Monday, reaching $884.40. The stock had a trading volume of 106,951 shares, compared to its average volume of 101,783. The stock has a 50-day moving average of $837.35 and a 200-day moving average of $715.34. The company has a market capitalization of $20.32 billion, a price-to-earnings ratio of 47.02 and a beta of 1.60. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $959.50.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.36 by ($0.38). The firm had revenue of $172.33 million during the quarter, compared to analysts' expectations 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 period last year, the company earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid 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 0.53%. Texas Pacific Land's dividend payout ratio (DPR) is presently 24.88%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th. BWS Financial reiterated a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land 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.