B. Riley Wealth Advisors Inc. Has $764,000 Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

B. Riley Wealth Advisors Inc. boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 56.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,321 shares of the financial services provider’s stock after buying an additional 475 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Texas Pacific Land were worth $764,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its stake in Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after buying an additional 10,483 shares during the period. Van ECK Associates Corp raised its position in Texas Pacific Land by 220.7% in the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock valued at $2,393,000 after buying an additional 2,847 shares during the last quarter. Sandbox Financial Partners LLC lifted its stake in Texas Pacific Land by 175.4% in the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock valued at $1,262,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Texas Pacific Land by 174.6% during the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after acquiring an additional 7,476 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 2.6 %

NYSE:TPL opened at $823.01 on Friday. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of 43.76 and a beta of 1.63. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $854.66. The stock’s 50 day moving average price is $739.05 and its two-hundred day moving average price is $613.74.

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

Texas Pacific Land Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TPL shares. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reissued a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Friday, May 10th.

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.