Teachers Retirement System of The State of Kentucky Purchases New Shares in Texas Pacific Land Co. (NYSE:TPL)

Teachers Retirement System of The State of Kentucky acquired a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,135 shares of the financial services provider's stock, valued at approximately $3,770,000.

A number of other hedge funds also recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its position in Texas Pacific Land by 204.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider's stock worth $584,000 after acquiring an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider's stock valued at $8,709,000 after purchasing an additional 10,483 shares during the period. Van ECK Associates Corp increased its position in Texas Pacific Land by 220.7% in the first quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider's stock worth $2,393,000 after buying an additional 2,847 shares in the last quarter. Sandbox Financial Partners LLC raised its stake in shares of Texas Pacific Land by 175.4% in the first quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider's stock worth $1,262,000 after buying an additional 1,389 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Texas Pacific Land by 174.6% during the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider's stock valued at $6,802,000 after buying an additional 7,476 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Up 1.1 %

TPL stock traded up $10.91 during midday trading on Friday, hitting $981.37. The company's stock had a trading volume of 100,488 shares, compared to its average volume of 102,541. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $990.84. The company has a 50 day moving average of $845.61 and a two-hundred day moving average of $721.09. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 52.17 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 for the quarter, missing analysts' consensus estimates 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 in the prior year, the company posted $4.35 EPS.

Texas Pacific Land Announces Dividend

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. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio is currently 24.88%.

Analyst Ratings Changes

A number of equities research analysts have commented on TPL shares. BWS Financial restated a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com downgraded shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th.

Texas Pacific Land Company 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.