Teachers Retirement System of The State of Kentucky Purchases New Shares in Texas Pacific Land Co. (NYSE:TPL)

Teachers Retirement System of The State of Kentucky purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,135 shares of the financial services provider’s stock, valued at approximately $3,770,000.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in 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 valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 41 shares during the period. IFS Advisors LLC boosted 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 period. American National Bank bought a new stake in shares of Texas Pacific Land during the 2nd quarter valued at $42,000. Finally, Halpern Financial Inc. lifted its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 50 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 4.3 %

Shares of TPL stock opened at $970.46 on Friday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $975.00. The company has a market cap of $22.30 billion, a P/E ratio of 51.59 and a beta of 1.60. The business has a fifty day simple moving average of $842.35 and a 200 day simple moving average of $719.35.

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 for the quarter, missing the consensus estimate 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 business had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the prior year, the company earned $4.35 earnings per share.

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 given a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in 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 reiterated 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 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.