Strs Ohio Invests $758,000 in Texas Pacific Land Co. (NYSE:TPL)

Strs Ohio purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 427 shares of the financial services provider’s stock, valued at approximately $758,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth about $27,000. First Horizon Advisors Inc. bought a new position in shares of Texas Pacific Land in the 2nd quarter valued at approximately $28,000. Federated Hermes Inc. bought a new position in shares of Texas Pacific Land in the 1st quarter valued at approximately $68,000. Covestor Ltd raised its stake in shares of Texas Pacific Land by 1,500.0% in the 1st quarter. Covestor Ltd now owns 96 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 90 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Texas Pacific Land by 41.9% in the 2nd quarter. Lindbrook Capital LLC now owns 88 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 26 shares in the last quarter. 58.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Texas Pacific Land in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Texas Pacific Land Stock Up 0.7 %

TPL opened at $2,108.49 on Tuesday. The firm has a market capitalization of $16.25 billion, a P/E ratio of 38.31 and a beta of 1.97. The stock’s 50 day moving average price is $2,449.12 and its two-hundred day moving average price is $2,062.33. Texas Pacific Land Co. has a 12-month low of $946.29 and a 12-month high of $2,739.00.

Texas Pacific Land (NYSE:TPL – Get Rating) last released its earnings results on Wednesday, November 2nd. The financial services provider reported $16.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.38 by $2.44. The business had revenue of $191.11 million during the quarter, compared to analyst estimates of $175.67 million. As a group, analysts anticipate that Texas Pacific Land Co. will post 59.96 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 8th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Wednesday, December 7th. Texas Pacific Land’s dividend payout ratio (DPR) is currently 21.80%.

Texas Pacific Land Company Profile

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Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds own 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 located in the western part of Texas.