IFM Investors Pty Ltd Grows Stake in Texas Pacific Land Co. (NYSE:TPL)

IFM Investors Pty Ltd grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 43.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,082 shares of the financial services provider’s stock after acquiring an additional 1,536 shares during the period. IFM Investors Pty Ltd’s holdings in Texas Pacific Land were worth $4,496,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TPL. X Square Capital LLC increased its holdings in Texas Pacific Land by 1.9% in the 3rd quarter. X Square Capital LLC now owns 3,507 shares of the financial services provider’s stock worth $3,103,000 after acquiring an additional 66 shares during the last quarter. International Assets Investment Management LLC bought a new position in Texas Pacific Land during the third quarter worth about $45,400,000. Marietta Wealth Management LLC increased its stake in shares of Texas Pacific Land by 3.8% in the third quarter. Marietta Wealth Management LLC now owns 4,135 shares of the financial services provider’s stock worth $3,658,000 after purchasing an additional 150 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Texas Pacific Land by 0.7% in the third quarter. Private Advisor Group LLC now owns 3,657 shares of the financial services provider’s stock valued at $3,236,000 after purchasing an additional 27 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at approximately $111,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Stock Up 0.7 %

Shares of TPL opened at $1,098.01 on Friday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,106.87. The stock has a market cap of $25.23 billion, a PE ratio of 56.48 and a beta of 1.60. The business’s 50-day moving average price is $919.63 and its 200-day moving average price is $774.52.

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

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.43%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 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.