RiverPark Advisors LLC Buys 538 Shares of Texas Pacific Land Co. (NYSE:TPL)

RiverPark Advisors LLC boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 179.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 837 shares of the financial services provider’s stock after buying an additional 538 shares during the period. RiverPark Advisors LLC’s holdings in Texas Pacific Land were worth $484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Texas Pacific Land in the 4th quarter worth $36,000. CVA Family Office LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter worth $50,000. Signaturefd LLC increased its holdings in shares of 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of 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 in the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

TPL has been the subject of a number of research analyst reports. BWS Financial reissued a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a report on Friday, May 10th. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Stock Performance

Shares of TPL stock traded down $1.90 on Tuesday, reaching $749.59. The stock had a trading volume of 110,304 shares, compared to its average volume of 108,901. The stock has a market cap of $17.23 billion, a P/E ratio of 39.85 and a beta of 1.63. Texas Pacific Land Co. has a 1 year low of $446.00 and a 1 year high of $799.46. The company has a 50 day simple moving average of $665.13 and a 200 day simple moving average of $580.50.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.39. The firm had revenue of $174.14 million for the quarter, compared to the consensus estimate of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. On average, equities research analysts anticipate that Texas Pacific Land Co. will post 21.2 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently announced 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 is Monday, July 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

About Texas Pacific Land

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.