Raymond James Financial Services Advisors Inc. Has $1.12 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Raymond James Financial Services Advisors Inc. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 628 shares of the financial services provider’s stock after purchasing an additional 20 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Texas Pacific Land were worth $1,117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Avantax Advisory Services Inc. boosted its stake in shares of Texas Pacific Land by 1.8% during the second quarter. Avantax Advisory Services Inc. now owns 348 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 6 shares in the last quarter. Xponance Inc. boosted its stake in shares of Texas Pacific Land by 1.0% during the second quarter. Xponance Inc. now owns 674 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 7 shares in the last quarter. Edge Capital Group LLC boosted its stake in shares of Texas Pacific Land by 0.7% during the second quarter. Edge Capital Group LLC now owns 1,007 shares of the financial services provider’s stock valued at $1,498,000 after purchasing an additional 7 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Texas Pacific Land by 2.2% during the second quarter. Whittier Trust Co. now owns 372 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 8 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Texas Pacific Land by 0.9% during the first quarter. Utah Retirement Systems now owns 1,066 shares of the financial services provider’s stock valued at $1,442,000 after purchasing an additional 9 shares in the last quarter. 58.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $2,094.49 on Friday. The stock’s 50 day moving average is $2,402.97 and its 200 day moving average is $2,070.52. The firm has a market cap of $16.14 billion, a P/E ratio of 38.05 and a beta of 1.97. Texas Pacific Land Co. has a one year low of $946.29 and a one year high of $2,739.00.

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

Texas Pacific Land Dividend Announcement

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. The ex-dividend date was Wednesday, December 7th. This represents a $12.00 dividend on an annualized basis and a yield of 0.57%. Texas Pacific Land’s payout ratio 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.