Amalgamated Bank Has $8.14 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Amalgamated Bank cut its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,202 shares of the financial services provider's stock after selling 466 shares during the period. Amalgamated Bank's holdings in Texas Pacific Land were worth $8,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. American National Bank bought a new stake in shares of Texas Pacific Land in the second quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Pacific Land in the 2nd quarter worth about $44,000. Compagnie Lombard Odier SCmA bought a new position in Texas Pacific Land in the 3rd quarter valued at about $44,000. Signaturefd LLC grew its position in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after buying an additional 13 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 96 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock traded up $5.69 during midday 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. The business's 50 day simple moving average is $973.69 and its two-hundred day simple moving average is $807.70. The stock has a market cap of $30.69 billion, a PE ratio of 68.43 and a beta of 1.56. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,360.06.

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). The company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same period in the previous year, the business posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date is Monday, December 2nd. Texas Pacific Land's dividend payout ratio is presently 24.07%.

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.