O Brien Greene & Co. Inc lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 13.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,300 shares of the financial services provider’s stock after buying an additional 150 shares during the quarter. O Brien Greene & Co. Inc’s holdings in Texas Pacific Land were worth $2,066,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth about $8,221,000. Ropes Wealth Advisors LLC acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth about $1,531,000. River Road Asset Management LLC lifted its stake in shares of Texas Pacific Land by 2.0% during the 1st quarter. River Road Asset Management LLC now owns 3,211 shares of the financial services provider’s stock worth $5,104,000 after buying an additional 64 shares during the last quarter. Transcend Wealth Collective LLC acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth about $238,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth about $1,156,000. Institutional investors own 55.66% of the company’s stock.
A number of research firms have recently issued reports on TPL. Zacks Investment Research upgraded shares of Texas Pacific Land from a “hold” rating to a “buy” rating and set a $1,767.00 target price for the company in a research note on Tuesday, March 30th. Stifel Nicolaus lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating and set a $1,359.00 price target on the stock. in a research report on Thursday, April 1st. Finally, BWS Financial raised their price target on shares of Texas Pacific Land from $1,700.00 to $2,000.00 and gave the stock a “buy” rating in a research report on Monday, May 10th.
Texas Pacific Land (NYSE:TPL) last released its earnings results on Thursday, May 6th. The financial services provider reported $6.45 EPS for the quarter, beating the consensus estimate of $5.77 by $0.68. Texas Pacific Land had a net margin of 58.70% and a return on equity of 34.01%. The firm had revenue of $84.16 million for the quarter, compared to analyst estimates of $75.22 million. Analysts forecast that Texas Pacific Land Co. will post 31.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 8th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 0.73%. The ex-dividend date is Monday, June 7th. Texas Pacific Land’s dividend payout ratio is currently 48.46%.
In other news, CEO Tyler Glover bought 158 shares of the firm’s stock in a transaction on Tuesday, May 18th. The shares were purchased at an average cost of $1,649.40 per share, with a total value of $260,605.20. Following the acquisition, the chief executive officer now directly owns 258 shares in the company, valued at $425,545.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 287 shares of company stock worth $461,390. Insiders own 0.92% of the company’s stock.
Texas Pacific Land Company Profile
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds oil and gas royalty interests; easements and commercial leases comprising easement contracts covering activities, such as oil and gas pipelines and subsurface wellbore easements; and agreements with operators and midstream companies to lease its land, primarily for facilities and roads.
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