GAMMA Investing LLC Has $100,000 Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

GAMMA Investing LLC lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 109.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113 shares of the financial services provider’s stock after purchasing an additional 59 shares during the period. GAMMA Investing LLC’s holdings in Texas Pacific Land were worth $100,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Quent Capital LLC increased its stake in shares of Texas Pacific Land by 16,100.0% during the 3rd quarter. Quent Capital LLC now owns 2,916 shares of the financial services provider’s stock worth $2,580,000 after purchasing an additional 2,898 shares during the last quarter. Cim LLC increased its stake in shares of Texas Pacific Land by 7.4% during the 2nd quarter. Cim LLC now owns 1,895 shares of the financial services provider’s stock worth $1,502,000 after purchasing an additional 131 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth about $996,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth about $3,770,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Texas Pacific Land by 82.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,407 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 1,086 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,066.19 on Tuesday. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,076.31. The firm has a market cap of $24.50 billion, a P/E ratio of 54.85 and a beta of 1.60. The firm’s 50-day simple moving average is $873.05 and its 200 day simple moving average is $744.97.

Texas Pacific Land (NYSE:TPL) last announced its earnings results 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 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 analyst estimates of $182.35 million. During the same quarter in the previous year, the company earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

Wall Street Analyst Weigh In

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

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.