Investment Advisory Group LLC Acquires New Position in Texas Pacific Land Co. (NYSE:TPL)

Investment Advisory Group LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,003 shares of the financial services provider's stock, valued at approximately $887,000.

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

Texas Pacific Land Stock Performance

Shares of TPL stock traded down $29.52 during mid-day trading on Tuesday, reaching $1,036.67. 90,866 shares of the company's stock traded hands, compared to its average volume of 104,683. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,076.31. The firm has a 50 day moving average price of $878.33 and a two-hundred day moving average price of $748.19. The firm has a market capitalization of $23.82 billion, a PE ratio of 53.33 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $182.35 million. During the same period in the prior year, the firm posted $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land's payout ratio is 24.07%.

Analyst Upgrades and Downgrades

TPL has been the subject of a number of research reports. StockNews.com cut Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th. BWS Financial reaffirmed a "buy" rating and set a $917.00 price target on shares of Texas Pacific Land in a research report 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.

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