Beacon Investment Advisory Services Inc. Invests $215,000 in Texas Pacific Land Co. (NYSE:TPL)

Beacon Investment Advisory Services Inc. purchased a new position in Texas Pacific Land Co. (NYSE:TPL) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 372 shares of the financial services provider’s stock, valued at approximately $215,000.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Texas Pacific Land by 220.7% in the first 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 lifted its stake in Texas Pacific Land by 175.4% during the first quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after purchasing an additional 1,389 shares during the period. Hodges Capital Management Inc. lifted its stake in Texas Pacific Land by 130.9% during the first quarter. Hodges Capital Management Inc. now owns 77,137 shares of the financial services provider’s stock worth $44,625,000 after purchasing an additional 43,726 shares during the period. Norden Group LLC bought a new position in Texas Pacific Land during the first quarter worth about $1,063,000. Finally, Grimes & Company Inc. lifted its stake in Texas Pacific Land by 200.7% during the first quarter. Grimes & Company Inc. now owns 4,104 shares of the financial services provider’s stock worth $2,374,000 after purchasing an additional 2,739 shares during the period. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Friday, May 10th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Stock Down 0.4 %

TPL traded down $3.44 during midday trading on Friday, reaching $813.52. 40,771 shares of the company’s stock were exchanged, compared to its average volume of 108,483. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 43.43 and a beta of 1.63. The business has a 50-day simple moving average of $698.03 and a two-hundred day simple moving average of $592.95. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $834.52.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data 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 analyst estimates 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, research analysts anticipate that Texas Pacific Land Co. will post 21.2 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a None dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a $10.00 dividend. The ex-dividend date of this dividend was Monday, July 1st. Texas Pacific Land’s payout ratio 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.