Stephens Inc. AR Has $938,000 Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Stephens Inc. AR decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 56.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,060 shares of the financial services provider's stock after selling 1,350 shares during the period. Stephens Inc. AR's holdings in Texas Pacific Land were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. acquired a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $312,000. New York State Teachers Retirement System increased its stake in Texas Pacific Land by 6.1% during the 3rd quarter. New York State Teachers Retirement System now owns 12,731 shares of the financial services provider's stock worth $11,264,000 after acquiring an additional 731 shares during the period. abrdn plc raised its holdings in Texas Pacific Land by 15.0% in the 3rd quarter. abrdn plc now owns 4,565 shares of the financial services provider's stock valued at $4,039,000 after acquiring an additional 597 shares in the last quarter. Hunter Associates Investment Management LLC lifted its position in shares of Texas Pacific Land by 5.7% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 5,964 shares of the financial services provider's stock valued at $5,274,000 after acquiring an additional 320 shares during the period. Finally, First Financial Bankshares Inc grew its holdings in shares of Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock worth $667,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

NYSE:TPL traded up $87.20 during mid-day trading on Wednesday, reaching $1,330.35. The stock had a trading volume of 204,743 shares, compared to its average volume of 103,242. The stock has a 50-day simple moving average of $964.56 and a two-hundred day simple moving average of $804.02. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,360.06. The stock has a market capitalization of $30.57 billion, a PE ratio of 63.95 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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 business had revenue of $172.33 million for the quarter, compared to analyst estimates 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 period last year, the firm posted $4.35 EPS.

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.