US Bancorp DE Increases Position in Texas Pacific Land Co. (NYSE:TPL)

US Bancorp DE raised its position in Texas Pacific Land Co. (NYSE:TPL) by 195.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,186 shares of the financial services provider’s stock after buying an additional 14,022 shares during the period. US Bancorp DE owned about 0.09% of Texas Pacific Land worth $12,256,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. NEOS Investment Management LLC boosted its holdings in Texas Pacific Land by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock worth $231,000 after buying an additional 7 shares during the last quarter. Arizona State Retirement System boosted its holdings in Texas Pacific Land by 0.5% in the 4th quarter. Arizona State Retirement System now owns 1,687 shares of the financial services provider’s stock worth $2,653,000 after buying an additional 8 shares during the last quarter. Signaturefd LLC boosted its holdings 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 buying an additional 8 shares during the last quarter. Balentine LLC boosted its holdings in Texas Pacific Land by 3.7% in the 4th quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock worth $437,000 after buying an additional 10 shares during the last quarter. Finally, First Personal Financial Services boosted its holdings in Texas Pacific Land by 6.8% in the 4th quarter. First Personal Financial Services now owns 173 shares of the financial services provider’s stock worth $272,000 after buying an additional 11 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TPL has been the topic of several recent research reports. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a report on Friday, May 10th.

Texas Pacific Land Stock Up 0.2 %

Shares of Texas Pacific Land stock traded up $1.30 on Tuesday, hitting $824.07. 120,266 shares of the company were exchanged, compared to its average volume of 109,156. The stock has a market capitalization of $18.95 billion, a price-to-earnings ratio of 43.81 and a beta of 1.63. The company has a 50-day moving average price of $683.83 and a 200 day moving average price of $587.68. Texas Pacific Land Co. has a 1-year low of $454.04 and a 1-year high of $834.52.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a None dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $10.00 dividend. The ex-dividend date of this dividend was Monday, July 1st. Texas Pacific Land’s dividend payout ratio is presently 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.