New Mexico Educational Retirement Board Takes $2.79 Million Position in Texas Pacific Land Co. (NYSE:TPL)

New Mexico Educational Retirement Board acquired a new position in Texas Pacific Land Co. (NYSE:TPL) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,800 shares of the financial services provider’s stock, valued at approximately $2,790,000.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial reissued a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Stock Up 0.7 %

TPL opened at $798.51 on Friday. The firm has a market capitalization of $18.36 billion, a P/E ratio of 42.45 and a beta of 1.60. The stock has a fifty day moving average of $809.09 and a 200-day moving average of $674.86. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $881.12.

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 (EPS) 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 during the quarter, compared to analysts’ expectations of $182.35 million. During the same period in the prior year, the company posted $4.35 earnings per share. On average, analysts expect that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s payout ratio is presently 24.88%.

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.