Balentine LLC Invests $445,000 in Texas Pacific Land Co. (NYSE:TPL)

Balentine LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 503 shares of the financial services provider’s stock, valued at approximately $445,000.

A number of other large investors have also bought and sold shares of the business. Pittenger & Anderson Inc. boosted its stake in Texas Pacific Land by 1,492.9% in the third quarter. Pittenger & Anderson Inc. now owns 446 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 418 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Texas Pacific Land by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 7,085 shares of the financial services provider’s stock worth $6,268,000 after buying an additional 76 shares in the last quarter. National Pension Service grew its holdings in Texas Pacific Land by 18.9% during the 3rd quarter. National Pension Service now owns 40,190 shares of the financial services provider’s stock worth $35,558,000 after acquiring an additional 6,390 shares during the last quarter. Forum Financial Management LP acquired a new stake in Texas Pacific Land in the 3rd quarter valued at about $238,000. Finally, Van ECK Associates Corp increased its position in Texas Pacific Land by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 4,669 shares of the financial services provider’s stock valued at $4,131,000 after acquiring an additional 463 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Up 2.9 %

TPL stock opened at $1,243.19 on Wednesday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,248.94. The company has a market cap of $28.57 billion, a P/E ratio of 63.95 and a beta of 1.56. The business has a fifty day moving average of $956.87 and a 200-day moving average of $799.37.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). The firm had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the previous year, the business earned $4.35 earnings per share.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Company Profile

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.