First Dallas Securities Inc. Has $16.74 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

First Dallas Securities Inc. raised its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 196.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,935 shares of the financial services provider’s stock after acquiring an additional 19,171 shares during the period. Texas Pacific Land makes up approximately 7.7% of First Dallas Securities Inc.’s investment portfolio, making the stock its largest position. First Dallas Securities Inc. owned about 0.13% of Texas Pacific Land worth $16,739,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Texas Pacific Land during the fourth quarter worth approximately $36,000. CVA Family Office LLC bought a new stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $50,000. Signaturefd LLC boosted its stake in shares of Texas Pacific Land by 30.8% in the fourth quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock valued at $53,000 after buying an additional 8 shares during the period. GAMMA Investing LLC boosted its stake in shares of Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares during the period. Finally, Quent Capital LLC boosted its stake in shares of Texas Pacific Land by 1,000.0% in the fourth quarter. Quent Capital LLC now owns 55 shares of the financial services provider’s stock valued at $86,000 after buying an additional 50 shares during the period. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

TPL has been the subject of several research analyst reports. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Friday, May 10th.

Texas Pacific Land Price Performance

TPL traded up $0.43 during trading on Friday, hitting $734.27. 198,640 shares of the stock traded hands, compared to its average volume of 314,041. Texas Pacific Land Co. has a twelve month low of $429.56 and a twelve month high of $799.46. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 39.04 and a beta of 1.59. The business has a 50 day moving average price of $643.61 and a 200 day moving average price of $569.65.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.39. The company had revenue of $174.14 million during the quarter, compared to the consensus estimate of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. On average, equities research analysts predict that Texas Pacific Land Co. will post 21.2 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently declared a None dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $10.00 per share. The ex-dividend date is Monday, July 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

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.