MBB Public Markets I LLC Invests $977,000 in Texas Pacific Land Co. (NYSE:TPL)

MBB Public Markets I LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,331 shares of the financial services provider's stock, valued at approximately $977,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NEOS Investment Management LLC boosted its stake in shares of Texas Pacific Land by 5.0% in 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 last quarter. BOKF NA lifted its stake in Texas Pacific Land by 1.1% in the second quarter. BOKF NA now owns 1,571 shares of the financial services provider's stock valued at $1,154,000 after purchasing an additional 17 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Texas Pacific Land by 3.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 605 shares of the financial services provider's stock valued at $951,000 after purchasing an additional 18 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Texas Pacific Land by 2.9% in the second 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 last quarter. Finally, Accordant Advisory Group Inc lifted its stake in Texas Pacific Land by 1.9% in the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider's stock valued at $1,015,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com downgraded Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th. BWS Financial reiterated a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Stock Performance

TPL stock traded up $29.60 during midday trading on Tuesday, reaching $914.34. 89,728 shares of the company's stock traded hands, compared to its average volume of 105,016. The company has a 50-day moving average price of $839.62 and a two-hundred day moving average price of $717.86. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $959.50. The firm has a market capitalization of $21.01 billion, a PE ratio of 48.61 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results 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). 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 for the quarter, compared to the consensus estimate of $182.35 million. During the same period in the previous year, the firm earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.51%. Texas Pacific Land's payout ratio is 24.88%.

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.