National Pension Service grew its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 18.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,190 shares of the financial services provider's stock after purchasing an additional 6,390 shares during the period. National Pension Service owned approximately 0.17% of Texas Pacific Land worth $35,558,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Texas Pacific Land by 522.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the financial services provider's stock valued at $429,000 after purchasing an additional 622 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Texas Pacific Land by 269.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,040 shares of the financial services provider's stock worth $6,387,000 after acquiring an additional 8,054 shares in the last quarter. Nordea Investment Management AB lifted its position in Texas Pacific Land by 200.0% during the 1st quarter. Nordea Investment Management AB now owns 813 shares of the financial services provider's stock worth $466,000 after acquiring an additional 542 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,347 shares of the financial services provider's stock worth $779,000 after acquiring an additional 898 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Texas Pacific Land by 361.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 309 shares of the financial services provider's stock valued at $179,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 59.94% of the company's stock.
Analyst Ratings Changes
Separately, BWS Financial restated a "buy" rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.
Read Our Latest Stock Report on Texas Pacific Land
Texas Pacific Land Price Performance
TPL traded up $5.69 during trading on Thursday, hitting $1,335.31. The company had a trading volume of 190,988 shares, compared to its average volume of 103,657. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,360.06. The company has a market cap of $30.69 billion, a PE ratio of 68.43 and a beta of 1.56. The business has a 50-day moving average of $973.69 and a 200-day moving average of $807.70.
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 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 the consensus estimate of $182.35 million. During the same period in the previous year, the business posted $4.35 EPS.
Texas Pacific Land Announces Dividend
The company also recently declared a dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.60 dividend. The ex-dividend date is Monday, December 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 24.07%.
About Texas Pacific Land
(
Free Report)
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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