B. Riley Wealth Advisors Inc. Grows Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

B. Riley Wealth Advisors Inc. boosted its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 82.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,407 shares of the financial services provider's stock after purchasing an additional 1,086 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Texas Pacific Land were worth $1,768,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TD Asset Management Inc increased its stake in shares of Texas Pacific Land by 13.7% during the 4th quarter. TD Asset Management Inc now owns 1,134 shares of the financial services provider's stock worth $1,783,000 after purchasing an additional 137 shares in the last quarter. Bank of Nova Scotia grew its holdings in Texas Pacific Land by 283.2% during the 4th quarter. Bank of Nova Scotia now owns 1,433 shares of the financial services provider's stock valued at $2,253,000 after buying an additional 1,059 shares during the last quarter. California State Teachers Retirement System increased its position in Texas Pacific Land by 16.9% during the fourth quarter. California State Teachers Retirement System now owns 16,961 shares of the financial services provider's stock worth $26,670,000 after buying an additional 2,458 shares in the last quarter. NEOS Investment Management LLC raised its holdings in shares of Texas Pacific Land by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider's stock worth $231,000 after acquiring an additional 7 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of Texas Pacific Land by 43.8% in the fourth quarter. Rafferty Asset Management LLC now owns 4,570 shares of the financial services provider's stock valued at $7,186,000 after acquiring an additional 1,392 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TPL. StockNews.com downgraded shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th. BWS Financial reissued a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Stock Up 4.3 %

Shares of NYSE:TPL traded up $40.45 during midday trading on Thursday, reaching $970.46. The company's stock had a trading volume of 111,353 shares, compared to its average volume of 104,804. The business has a 50 day moving average price of $842.35 and a 200 day moving average price of $719.35. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $975.00. The firm has a market cap of $22.30 billion, a price-to-earnings ratio of 51.19 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the prior year, the company earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio (DPR) is currently 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.