International Assets Investment Management LLC Makes New $45.40 Million Investment in Texas Pacific Land Co. (NYSE:TPL)

International Assets Investment Management LLC purchased a new position in Texas Pacific Land Co. (NYSE:TPL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 51,315 shares of the financial services provider’s stock, valued at approximately $45,400,000.

A number of other institutional investors have also made changes to their positions in TPL. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 199.8% during the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock worth $1,099,867,000 after buying an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after acquiring an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in Texas Pacific Land during the second quarter valued at approximately $131,014,000. Dimensional Fund Advisors LP increased its stake in Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after purchasing an additional 9,878 shares in the last quarter. Finally, Mad River Investors raised its holdings in Texas Pacific Land by 199.2% in the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after purchasing an additional 66,663 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE:TPL opened at $1,098.01 on Monday. The business’s 50-day simple moving average is $919.63 and its 200-day simple moving average is $775.77. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,106.87. The stock has a market capitalization of $25.24 billion, a PE ratio of 58.37 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share 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 during the quarter, compared to the consensus estimate of $182.35 million. During the same period in the previous year, the firm posted $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is 24.88%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a 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.