MONECO Advisors LLC Invests $245,000 in Texas Pacific Land Co. (NYSE:TPL)

MONECO Advisors LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 333 shares of the financial services provider’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NEOS Investment Management LLC boosted its holdings in shares of Texas Pacific Land by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock valued at $231,000 after buying an additional 7 shares in the last quarter. Signaturefd LLC grew its holdings in Texas Pacific Land by 30.8% in the fourth quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 8 shares during the last quarter. Balentine LLC increased its position in shares of Texas Pacific Land by 3.7% during the fourth quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 10 shares in the last quarter. Meridian Management Co. boosted its position in shares of Texas Pacific Land by 0.8% in the 4th quarter. Meridian Management Co. now owns 1,393 shares of the financial services provider’s stock worth $2,042,000 after purchasing an additional 11 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Texas Pacific Land by 1.3% during the 4th quarter. Van ECK Associates Corp now owns 1,290 shares of the financial services provider’s stock worth $2,028,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 2.5 %

Shares of NYSE:TPL opened at $842.30 on Tuesday. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $854.66. The stock has a market cap of $19.36 billion, a price-to-earnings ratio of 44.78 and a beta of 1.63. The business has a 50-day moving average price of $786.02 and a 200-day moving average price of $641.74.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (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 analysts’ expectations 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 in the prior year, the business posted $4.35 earnings per share. As a group, equities analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPL. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land 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.