Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Marietta Wealth Management LLC

Marietta Wealth Management LLC boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,135 shares of the financial services provider’s stock after buying an additional 150 shares during the quarter. Marietta Wealth Management LLC’s holdings in Texas Pacific Land were worth $3,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPL. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Texas Pacific Land during the 2nd quarter valued at approximately $131,014,000. Bank of New York Mellon Corp boosted its stake in shares of Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after buying an additional 86,975 shares during the last quarter. Mad River Investors grew its position in shares of Texas Pacific Land by 199.2% during the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after buying an additional 66,663 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after buying an additional 60,400 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Stock Up 1.6 %

Shares of NYSE TPL opened at $1,091.73 on Wednesday. The stock’s 50 day moving average price is $903.61 and its two-hundred day moving average price is $765.17. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,095.75. The stock has a market capitalization of $25.09 billion, a P/E ratio of 56.16 and a beta of 1.60.

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

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

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.