Wade G W & Inc. Raises Holdings in Texas Pacific Land Co. (NYSE:TPL)

Wade G W & Inc. increased its holdings in Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 821.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,156 shares of the financial services provider’s stock after acquiring an additional 1,922 shares during the period. Wade G W & Inc.’s holdings in Texas Pacific Land were worth $5,054,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Texas Pacific Land by 8.2% during the first quarter. Vanguard Group Inc. now owns 629,117 shares of the financial services provider’s stock worth $850,635,000 after buying an additional 47,484 shares during the period. BlackRock Inc. boosted its stake in Texas Pacific Land by 18.8% during the third quarter. BlackRock Inc. now owns 345,031 shares of the financial services provider’s stock worth $613,200,000 after buying an additional 54,723 shares during the period. State Street Corp boosted its stake in Texas Pacific Land by 11.6% during the third quarter. State Street Corp now owns 174,349 shares of the financial services provider’s stock worth $309,858,000 after buying an additional 18,096 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Texas Pacific Land by 26.6% during the third quarter. Neuberger Berman Group LLC now owns 74,326 shares of the financial services provider’s stock worth $132,095,000 after buying an additional 15,594 shares during the period. Finally, Lion Long Term Partners LP purchased a new position in shares of Texas Pacific Land during the fourth quarter worth $118,618,000. Hedge funds and other institutional investors own 58.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TPL. 1-800-FLOWERS.COM restated a “maintains” rating on shares of Texas Pacific Land in a research report on Monday. StockNews.com initiated coverage on shares of Texas Pacific Land in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus cut their target price on shares of Texas Pacific Land from $1,399.00 to $1,378.00 in a research note on Monday.

Texas Pacific Land Trading Down 1.0 %

NYSE:TPL traded down $12.56 during midday trading on Friday, reaching $1,292.00. The company had a trading volume of 6,889 shares, compared to its average volume of 41,687. Texas Pacific Land Co. has a 12-month low of $1,285.51 and a 12-month high of $2,739.00. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 23.14 and a beta of 1.87. The stock’s fifty day simple moving average is $1,550.87 and its 200-day simple moving average is $1,969.57.

Texas Pacific Land (NYSE:TPL – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The financial services provider reported $12.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $15.14 by ($2.20). The company had revenue of $152.71 million during the quarter, compared to analysts’ expectations of $171.71 million. Texas Pacific Land had a net margin of 65.28% and a return on equity of 58.62%. As a group, sell-side analysts expect that Texas Pacific Land Co. will post 48.7 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 8th will be paid a $3.25 dividend. This represents a $13.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, June 7th. Texas Pacific Land’s payout ratio is presently 23.06%.

Texas Pacific Land Profile

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Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.