Anchor Capital Advisors LLC Acquires 2,542 Shares of Texas Pacific Land Co. (NYSE:TPL)

Anchor Capital Advisors LLC raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 122.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,617 shares of the financial services provider’s stock after purchasing an additional 2,542 shares during the period. Anchor Capital Advisors LLC’s holdings in Texas Pacific Land were worth $2,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TPL. Benjamin F. Edwards & Company Inc. grew its position in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC grew its position in shares of Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 41 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at $36,000. IFS Advisors LLC grew its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 44 shares during the period. Finally, Halpern Financial Inc. grew its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 50 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 3.5 %

Texas Pacific Land stock traded up $27.86 during mid-day trading on Monday, hitting $829.12. The stock had a trading volume of 76,581 shares, compared to its average volume of 108,592. The firm has a market capitalization of $19.06 billion, a P/E ratio of 44.16 and a beta of 1.63. The firm’s 50 day moving average is $678.80 and its 200 day moving average is $585.63. Texas Pacific Land Co. has a one year low of $454.04 and a one year high of $830.67.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share 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%. As a group, equities research analysts forecast 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. Shareholders of record on Monday, July 1st will be paid a $10.00 dividend. The ex-dividend date is Monday, July 1st. Texas Pacific Land’s payout ratio is currently 24.88%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TPL. 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 reissued a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Friday, May 10th.

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.