Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 13.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,176 shares of the financial services provider's stock after purchasing an additional 2,333 shares during the quarter. Blue Trust Inc. owned 0.08% of Texas Pacific Land worth $16,966,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings in Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC increased its holdings in Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 41 shares in the last quarter. American National Bank purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $44,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the third quarter worth about $44,000. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.7 %

Shares of NYSE TPL traded down $7.49 during midday trading on Friday, reaching $1,058.53. 79,507 shares of the stock were exchanged, compared to its average volume of 104,226. The company has a market capitalization of $24.34 billion, a P/E ratio of 56.27 and a beta of 1.60. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,077.25. The stock has a 50 day moving average price of $893.34 and a 200-day moving average price of $757.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $172.33 million for 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 quarter last year, the firm earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.44%. Texas Pacific Land's dividend payout ratio is presently 24.88%.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a "buy" rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

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.