Dimensional Fund Advisors LP Boosts Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Dimensional Fund Advisors LP raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,156 shares of the financial services provider’s stock after buying an additional 9,878 shares during the quarter. Dimensional Fund Advisors LP owned about 0.55% of Texas Pacific Land worth $92,632,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its stake in Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 678 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock valued at $8,709,000 after buying an additional 10,483 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Texas Pacific Land by 220.7% during the first quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock valued at $2,393,000 after acquiring an additional 2,847 shares in the last quarter. Sandbox Financial Partners LLC raised its holdings in Texas Pacific Land by 175.4% in the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after acquiring an additional 1,389 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock valued at $6,802,000 after acquiring an additional 7,476 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Texas Pacific Land Trading Down 1.1 %

NYSE:TPL opened at $941.33 on Wednesday. The company has a 50 day simple moving average of $831.03 and a two-hundred day simple moving average of $705.18. The company has a market cap of $21.64 billion, a PE ratio of 50.04 and a beta of 1.60. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $959.50.

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). The firm had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter last year, the company posted $4.35 EPS. Research analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.88%.

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.