Cullen Frost Bankers Inc. bought a new position in shares of Texas Pacific Land Trust (NYSE:TPL) during the first quarter, Holdings Channel reports. The firm bought 150 shares of the financial services provider’s stock, valued at approximately $116,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arlington Partners LLC raised its stake in shares of Texas Pacific Land Trust by 0.6% during the 4th quarter. Arlington Partners LLC now owns 3,620 shares of the financial services provider’s stock worth $1,961,000 after purchasing an additional 20 shares during the period. Cim LLC raised its stake in Texas Pacific Land Trust by 2.4% in the 4th quarter. Cim LLC now owns 987 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 23 shares during the period. Financial Management Professionals Inc. raised its stake in Texas Pacific Land Trust by 19.4% in the 4th quarter. Financial Management Professionals Inc. now owns 154 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 25 shares during the period. Cordasco Financial Network bought a new stake in Texas Pacific Land Trust in the 1st quarter valued at about $33,000. Finally, Janney Montgomery Scott LLC raised its stake in Texas Pacific Land Trust by 4.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,130 shares of the financial services provider’s stock valued at $874,000 after acquiring an additional 47 shares during the period. Institutional investors own 39.79% of the company’s stock.

Shares of Texas Pacific Land Trust stock opened at $799.00 on Tuesday. Texas Pacific Land Trust has a 52-week low of $409.00 and a 52-week high of $915.66. The stock has a market capitalization of $6.21 billion, a P/E ratio of 20.52 and a beta of 1.30.

Texas Pacific Land Trust (NYSE:TPL) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $18.04 earnings per share (EPS) for the quarter. Texas Pacific Land Trust had a return on equity of 154.92% and a net margin of 162.78%. The business had revenue of $33.21 million for the quarter.

Separately, ValuEngine upgraded Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a research note on Friday, January 25th.

In other news, major shareholder Horizon Kinetics Llc acquired 36 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $896.07 per share, for a total transaction of $32,258.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 811 shares of company stock worth $661,585 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

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Texas Pacific Land Trust Company Profile

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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Institutional Ownership by Quarter for Texas Pacific Land Trust (NYSE:TPL)

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