TD Asset Management Inc Has $2.88 Million Position in Texas Pacific Land Co. (NYSE:TPL)

TD Asset Management Inc grew its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 14.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,926 shares of the financial services provider’s stock after purchasing an additional 495 shares during the quarter. TD Asset Management Inc’s holdings in Texas Pacific Land were worth $2,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPL. NEOS Investment Management LLC increased its position in 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 acquiring an additional 7 shares during the period. Balentine LLC grew its stake in shares of Texas Pacific Land by 3.7% in 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 during the last quarter. Meridian Management Co. increased its holdings in Texas Pacific Land by 0.8% in the fourth quarter. Meridian Management Co. now owns 1,393 shares of the financial services provider’s stock valued at $2,042,000 after purchasing an additional 11 shares during the period. Steward Partners Investment Advisory LLC raised its position in Texas Pacific Land by 3.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 605 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 18 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Texas Pacific Land by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock worth $555,000 after buying an additional 21 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial reissued a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Stock Up 0.7 %

TPL stock opened at $794.69 on Friday. The firm has a market cap of $18.27 billion, a price-to-earnings ratio of 42.25 and a beta of 1.60. The company’s fifty day simple moving average is $813.23 and its 200 day simple moving average is $681.40. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $881.12.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data 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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The business had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same period in the prior year, the firm earned $4.35 earnings per share. Research analysts expect that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Announces Dividend

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

Texas Pacific Land Company 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.