TIAA Trust National Association Increases Stake in Texas Pacific Land Co. (NYSE:TPL)

TIAA Trust National Association increased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 194.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,306 shares of the financial services provider’s stock after buying an additional 8,129 shares during the period. TIAA Trust National Association owned about 0.05% of Texas Pacific Land worth $7,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Vanguard Group Inc. boosted its holdings in shares of Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after buying an additional 1,267,123 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Texas Pacific Land by 163.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,154 shares of the financial services provider’s stock valued at $8,751,000 after buying an additional 9,402 shares in the last quarter. First Foundation Advisors boosted its holdings in shares of Texas Pacific Land by 365.8% in the 1st quarter. First Foundation Advisors now owns 6,279 shares of the financial services provider’s stock valued at $3,632,000 after buying an additional 4,931 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of Texas Pacific Land by 225.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 37,785 shares of the financial services provider’s stock valued at $21,859,000 after buying an additional 26,190 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Texas Pacific Land by 199.9% in the 1st quarter. Blair William & Co. IL now owns 8,022 shares of the financial services provider’s stock valued at $4,641,000 after buying an additional 5,347 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BWS Financial restated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a report on Friday, May 10th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th.

Texas Pacific Land Stock Down 0.3 %

NYSE:TPL traded down $2.48 during trading hours on Friday, reaching $814.48. 79,649 shares of the company’s stock were exchanged, compared to its average volume of 250,775. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 43.30 and a beta of 1.63. The company has a 50-day moving average of $701.84 and a 200 day moving average of $595.39. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $834.52.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.39. The firm had revenue of $174.14 million during the quarter, compared to analysts’ expectations of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. Research analysts forecast that Texas Pacific Land Co. will post 21.2 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a None dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $10.00 per share. The ex-dividend date was Monday, July 1st. Texas Pacific Land’s payout ratio is currently 24.88%.

About Texas Pacific Land

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.