Teacher Retirement System of Texas boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 114.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,257 shares of the financial services provider’s stock after acquiring an additional 1,205 shares during the quarter. Teacher Retirement System of Texas’ holdings in Texas Pacific Land were worth $4,011,000 as of its most recent SEC filing.
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Other hedge funds have also recently bought and sold shares of the company. Collective Family Office LLC raised its stake in Texas Pacific Land by 2.2% during the second quarter. Collective Family Office LLC now owns 1,903 shares of the financial services provider’s stock worth $2,832,000 after acquiring an additional 41 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Texas Pacific Land by 41.9% in the second quarter. Lindbrook Capital LLC now owns 88 shares of the financial services provider’s stock valued at $131,000 after buying an additional 26 shares in the last quarter. Next Level Private LLC acquired a new stake in shares of Texas Pacific Land in the third quarter valued at $201,000. Stephens Inc. AR boosted its holdings in Texas Pacific Land by 1.3% in the second quarter. Stephens Inc. AR now owns 996 shares of the financial services provider’s stock valued at $1,482,000 after acquiring an additional 13 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in Texas Pacific Land by 2.2% during the second quarter. Whittier Trust Co. now owns 372 shares of the financial services provider’s stock worth $554,000 after buying an additional 8 shares during the last quarter. 58.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on Texas Pacific Land in a report on Wednesday, October 12th. They set a “hold” rating on the stock.
Texas Pacific Land Trading Down 1.6 %
Shares of TPL opened at $2,062.01 on Tuesday. Texas Pacific Land Co. has a 1 year low of $946.29 and a 1 year high of $2,739.00. The stock has a market cap of $15.88 billion, a P/E ratio of 37.46 and a beta of 1.97. The stock’s 50-day moving average price is $2,391.41 and its two-hundred day moving average price is $2,082.89.
Texas Pacific Land (NYSE:TPL – Get Rating) last issued its earnings results on Wednesday, November 2nd. The financial services provider reported $16.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.38 by $2.44. The company had revenue of $191.11 million for the quarter, compared to the consensus estimate of $175.67 million. As a group, equities analysts forecast that Texas Pacific Land Co. will post 59.96 EPS for the current year.
Texas Pacific Land Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 8th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, December 7th. Texas Pacific Land’s dividend payout ratio is currently 21.80%.
Texas Pacific Land Profile
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company’s Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds own 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 located in the western part of Texas.
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