Marietta Wealth Management LLC Increases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Marietta Wealth Management LLC increased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TPL. Avantax Advisory Services Inc. lifted its holdings in shares of Texas Pacific Land by 204.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Texas Pacific Land by 229.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock valued at $8,709,000 after purchasing an additional 10,483 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock valued at $2,393,000 after buying an additional 2,847 shares during the period. Sandbox Financial Partners LLC increased its holdings in shares of Texas Pacific Land by 175.4% during the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after buying an additional 1,389 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after buying an additional 7,476 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 1.6 %

TPL opened at $1,091.73 on Wednesday. The company has a 50 day moving average of $903.61 and a two-hundred day moving average of $765.17. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,095.75. The company has a market cap 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 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). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The business had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. During the same period last year, the company posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. Texas Pacific Land’s payout ratio is currently 24.07%.

Analysts Set New Price Targets

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

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.