Van ECK Associates Corp Has $4.13 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Van ECK Associates Corp grew its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,669 shares of the financial services provider's stock after purchasing an additional 463 shares during the quarter. Van ECK Associates Corp's holdings in Texas Pacific Land were worth $4,131,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Confluence Wealth Services Inc. increased its position in Texas Pacific Land by 4.2% in the 3rd quarter. Confluence Wealth Services Inc. now owns 1,557 shares of the financial services provider's stock worth $1,377,000 after buying an additional 63 shares during the period. Janney Montgomery Scott LLC bought a new position in Texas Pacific Land during the third quarter worth $12,928,000. Chicago Partners Investment Group LLC raised its stake in Texas Pacific Land by 8.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 444 shares of the financial services provider's stock valued at $393,000 after purchasing an additional 35 shares during the last quarter. Sensible Financial Planning & Management LLC. bought a new stake in Texas Pacific Land in the 3rd quarter valued at $953,000. Finally, Creative Financial Designs Inc. ADV grew its position in Texas Pacific Land by 103.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the financial services provider's stock worth $296,000 after purchasing an additional 170 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Up 2.9 %

TPL stock traded up $38.75 during midday trading on Friday, hitting $1,374.06. The stock had a trading volume of 164,195 shares, compared to its average volume of 103,936. The stock has a 50-day simple moving average of $993.11 and a 200 day simple moving average of $816.85. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,417.72. The firm has a market capitalization of $31.57 billion, a price-to-earnings ratio of 70.56 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share 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 analyst estimates of $182.35 million. Texas Pacific Land had a net margin of 65.34% and a return on equity of 39.92%. During the same period in the previous year, the firm posted $4.35 earnings per share.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land's dividend payout ratio is currently 32.84%.

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 research note on Monday, August 12th.

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.