Bridges Investment Management Inc. Grows Position in Texas Pacific Land Co. (NYSE:TPL)

Bridges Investment Management Inc. boosted its stake in Texas Pacific Land Co. (NYSE:TPL) by 257.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,128 shares of the financial services provider’s stock after purchasing an additional 9,453 shares during the quarter. Bridges Investment Management Inc. owned about 0.06% of Texas Pacific Land worth $9,639,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 30 shares in the last quarter. GAMMA Investing LLC lifted its position in Texas Pacific Land by 315.4% during the first 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 in the last quarter. American National Bank acquired a new position in Texas Pacific Land during the second quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Texas Pacific Land during the second quarter valued at approximately $44,000. Finally, IFS Advisors LLC lifted its position in 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 buying an additional 44 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 3.8 %

NYSE TPL opened at $915.66 on Friday. The company’s fifty day simple moving average is $820.78 and its 200-day simple moving average is $691.70. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $925.15. The stock 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 earnings results 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 return on equity of 41.29% and a net margin of 66.71%. The firm had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the previous year, the firm posted $4.35 earnings per share. On average, research analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

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

Analysts Set New Price Targets

TPL has been the topic of a number of recent research reports. BWS Financial reaffirmed a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

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.