Grimes & Company Inc. Increases Position in Texas Pacific Land Co. (NYSE:TPL)

Grimes & Company Inc. boosted its holdings in Texas Pacific Land Co. (NYSE:TPLFree Report) by 200.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,104 shares of the financial services provider’s stock after purchasing an additional 2,739 shares during the quarter. Grimes & Company Inc.’s holdings in Texas Pacific Land were worth $2,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Texas Pacific Land in the fourth quarter worth about $36,000. CVA Family Office LLC purchased a new stake in Texas Pacific Land in the fourth quarter worth about $50,000. Signaturefd LLC grew its holdings in Texas Pacific Land by 30.8% in the fourth quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 8 shares during the period. GAMMA Investing LLC grew its holdings in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 41 shares during the period. Finally, Quent Capital LLC grew its holdings in Texas Pacific Land by 1,000.0% in the fourth quarter. Quent Capital LLC now owns 55 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Friday, May 10th.

Get Our Latest Research Report on TPL

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $734.27 on Friday. The company has a market cap of $16.88 billion, a PE ratio of 39.04 and a beta of 1.59. The firm’s 50 day moving average price is $643.61 and its 200-day moving average price is $570.03. Texas Pacific Land Co. has a 52-week low of $429.56 and a 52-week high of $799.46.

Texas Pacific Land (NYSE:TPLGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. The company had revenue of $174.14 million for the quarter, compared to the consensus estimate of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. On average, analysts forecast that Texas Pacific Land Co. will post 21.2 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $10.00 per share. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 24.88%.

Texas Pacific Land Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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