Van ECK Associates Corp Raises Position in Texas Pacific Land Co. (NYSE:TPL)

Van ECK Associates Corp increased its holdings in Texas Pacific Land Co. (NYSE:TPLFree Report) by 220.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,137 shares of the financial services provider’s stock after purchasing an additional 2,847 shares during the quarter. Van ECK Associates Corp’s holdings in Texas Pacific Land were worth $2,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Texas Pacific Land in the 4th quarter worth $36,000. CVA Family Office LLC purchased a new position in Texas Pacific Land in the 4th quarter worth $50,000. Signaturefd LLC raised its position in Texas Pacific Land by 30.8% in the 4th 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. Benjamin F. Edwards & Company Inc. raised its position in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 30 shares during the period. Finally, GAMMA Investing LLC raised its position in Texas Pacific Land by 315.4% in the 1st 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. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TPL shares. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial restated a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research report on Friday, May 10th.

Check Out Our Latest Stock Analysis on TPL

Texas Pacific Land Trading Down 0.0 %

TPL stock opened at $747.54 on Friday. The firm’s 50-day moving average price is $658.72 and its two-hundred day moving average price is $577.25. Texas Pacific Land Co. has a 12-month low of $429.56 and a 12-month high of $799.46. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 39.74 and a beta of 1.63.

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

Texas Pacific Land Announces Dividend

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

About Texas Pacific Land

(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.

See Also

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

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