Pittenger & Anderson Inc. Acquires 418 Shares of Texas Pacific Land Co. (NYSE:TPL)

Pittenger & Anderson Inc. lifted its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 1,492.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 446 shares of the financial services provider's stock after purchasing an additional 418 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Texas Pacific Land were worth $395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPL. Signaturefd LLC lifted its position in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after purchasing an additional 13 shares during the period. First Financial Bankshares Inc increased its stake in Texas Pacific Land by 2.2% in the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after acquiring an additional 16 shares during the last quarter. BOKF NA raised its position in Texas Pacific Land by 1.1% during the second quarter. BOKF NA now owns 1,571 shares of the financial services provider's stock valued at $1,154,000 after purchasing an additional 17 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Texas Pacific Land by 2.9% during the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider's stock worth $555,000 after purchasing an additional 21 shares during the last quarter. Finally, Accordant Advisory Group Inc boosted its holdings in shares of Texas Pacific Land by 1.9% in the 2nd quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider's stock valued at $1,015,000 after purchasing an additional 26 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded up $87.20 during midday trading on Wednesday, hitting $1,330.35. 204,743 shares of the company traded hands, compared to its average volume of 103,242. The firm's fifty day moving average price is $964.56 and its 200-day moving average price is $804.02. The stock has a market cap of $30.57 billion, a price-to-earnings ratio of 63.95 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,360.06.

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

Analyst Upgrades and Downgrades

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

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.