10,660 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) during the 2nd quarter, Holdings Channel reports. The fund acquired 10,660 shares of the financial services provider’s stock, valued at approximately $7,827,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after buying an additional 41 shares in the last quarter. IFS Advisors LLC raised its stake in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the last quarter. American National Bank acquired a new position in Texas Pacific Land in the 2nd quarter valued at about $42,000. Finally, Halpern Financial Inc. raised its stake in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

NYSE TPL opened at $915.66 on Friday. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $925.15. The company has a 50-day moving average of $820.78 and a 200-day moving average of $691.70. The company has a market cap of $21.04 billion, a P/E ratio of 48.68 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 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 company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the prior year, the company earned $4.35 EPS. As a group, equities research analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Analyst Upgrades and Downgrades

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

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.