New York State Teachers Retirement System Has $11.26 Million Position in Texas Pacific Land Co. (NYSE:TPL)

New York State Teachers Retirement System raised its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,731 shares of the financial services provider's stock after acquiring an additional 731 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of Texas Pacific Land worth $11,264,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. American National Bank bought a new stake in Texas Pacific Land during the 2nd quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land during the second quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land in the third quarter valued at $44,000. Signaturefd LLC raised its stake in shares of Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in Texas Pacific Land by 200.0% in the first quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider's stock worth $83,000 after purchasing an additional 96 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Texas Pacific Land Stock Performance

NYSE TPL traded up $6.62 during trading on Friday, reaching $1,172.62. 112,345 shares of the company traded hands, compared to its average volume of 81,478. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,189.91. The stock's 50 day moving average price is $949.96 and its two-hundred day moving average price is $793.50. The company has a market cap of $26.95 billion, a price-to-earnings ratio of 60.32 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data 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 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 previous year, the business posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's payout ratio is 24.07%.

About Texas Pacific Land

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.