ClariVest Asset Management LLC Takes $1.79 Million Position in Texas Pacific Land Co. (NYSE:TPL)

ClariVest Asset Management LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,431 shares of the financial services provider’s stock, valued at approximately $1,785,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Texas Pacific Land by 200.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC boosted its position in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares during the last quarter. IFS Advisors LLC grew its stake in shares of Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 44 shares in the last quarter. American National Bank purchased a new stake in shares of Texas Pacific Land during the second quarter worth about $42,000. Finally, Halpern Financial Inc. lifted its stake in shares of Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $789.25 on Thursday. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 41.96 and a beta of 1.60. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $881.12. The stock has a 50-day simple moving average of $812.29 and a 200 day simple moving average of $680.61.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $4.35 EPS. On average, equities research analysts forecast that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.59%. Texas Pacific Land’s payout ratio is 24.88%.

Analyst Ratings Changes

A number of brokerages have weighed in on TPL. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial restated a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

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.