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

RiverPark Advisors LLC increased its position in Texas Pacific Land Co. (NYSE:TPL) by 179.9% during the 1st quarter, Holdings Channel reports. The firm owned 837 shares of the financial services provider’s stock after acquiring an additional 538 shares during the quarter. RiverPark Advisors LLC’s holdings in Texas Pacific Land were worth $484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock valued at $2,393,000 after acquiring an additional 2,847 shares in the last quarter. Sandbox Financial Partners LLC boosted its position in Texas Pacific Land by 175.4% during the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock valued at $1,262,000 after acquiring an additional 1,389 shares in the last quarter. Hodges Capital Management Inc. boosted its position in Texas Pacific Land by 130.9% during the 1st quarter. Hodges Capital Management Inc. now owns 77,137 shares of the financial services provider’s stock valued at $44,625,000 after acquiring an additional 43,726 shares in the last quarter. Norden Group LLC bought a new stake in Texas Pacific Land during the 1st quarter valued at $1,063,000. Finally, Grimes & Company Inc. boosted its position in Texas Pacific Land by 200.7% during the 1st quarter. Grimes & Company Inc. now owns 4,104 shares of the financial services provider’s stock valued at $2,374,000 after acquiring an additional 2,739 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

TPL has been the subject of several analyst reports. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Friday, May 10th.

Texas Pacific Land Trading Down 0.3 %

Shares of TPL traded down $1.90 during midday trading on Tuesday, hitting $749.59. 110,304 shares of the company’s stock traded hands, compared to its average volume of 108,901. Texas Pacific Land Co. has a 1 year low of $446.00 and a 1 year high of $799.46. The firm’s fifty day moving average is $665.13 and its 200-day moving average is $580.50. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of 39.85 and a beta of 1.63.

Texas Pacific Land (NYSE:TPL) last issued its 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 company had revenue of $174.14 million during the quarter, compared to analyst estimates 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 EPS for the current year.

Texas Pacific Land Dividend Announcement

The company also recently announced a None dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $10.00 dividend. The ex-dividend date is Monday, July 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 24.88%.

Texas Pacific Land 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.