Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in shares of Texas Pacific Land Co. (NYSE:TPLFree Report) by 200.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,440 shares of the financial services provider’s stock after acquiring an additional 960 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Texas Pacific Land were worth $842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dean Jacobson Financial Services LLC grew its position in Texas Pacific Land by 200.0% in the first quarter. Dean Jacobson Financial Services LLC now owns 885 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 590 shares during the period. Mad River Investors boosted its position in shares of Texas Pacific Land by 199.2% during the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after buying an additional 66,663 shares during the period. Norden Group LLC purchased a new position in shares of Texas Pacific Land during the first quarter worth $1,063,000. Azzad Asset Management Inc. ADV boosted its position in shares of Texas Pacific Land by 213.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 3,702 shares of the financial services provider’s stock worth $2,142,000 after buying an additional 2,520 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Texas Pacific Land by 198.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,600 shares of the financial services provider’s stock worth $24,645,000 after buying an additional 28,329 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports 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 reiterated a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Friday, May 10th.

Read Our Latest Research Report on Texas Pacific Land

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $747.24 on Friday. Texas Pacific Land Co. has a 1-year low of $429.56 and a 1-year high of $799.46. The stock has a market cap of $17.18 billion, a PE ratio of 39.73 and a beta of 1.63. The stock’s fifty day moving average is $658.72 and its two-hundred day moving average is $577.01.

Texas Pacific Land (NYSE:TPLGet Free Report) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.39. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. The business had revenue of $174.14 million during the quarter, compared to the consensus estimate of $158.20 million. On average, research analysts expect 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 declared a None dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $10.00 dividend. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 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.

Further Reading

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

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