Texas Pacific Land Co. (NYSE:TPL) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 60.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,263 shares of the financial services provider’s stock after buying an additional 3,863 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Texas Pacific Land were worth $5,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. NEOS Investment Management LLC grew its position in shares of Texas Pacific Land by 5.0% during the fourth quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock worth $231,000 after buying an additional 7 shares in the last quarter. Arizona State Retirement System grew its position in shares of Texas Pacific Land by 0.5% during the fourth quarter. Arizona State Retirement System now owns 1,687 shares of the financial services provider’s stock worth $2,653,000 after buying an additional 8 shares in the last quarter. Signaturefd LLC grew its position in shares of Texas Pacific Land by 30.8% during the fourth quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock worth $53,000 after buying an additional 8 shares in the last quarter. Balentine LLC grew its position in shares of Texas Pacific Land by 3.7% during the fourth quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock worth $437,000 after buying an additional 10 shares in the last quarter. Finally, First Personal Financial Services grew its position in shares of Texas Pacific Land by 6.8% during the fourth quarter. First Personal Financial Services now owns 173 shares of the financial services provider’s stock worth $272,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TPL shares. BWS Financial restated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research note on Friday, May 10th. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Price Performance

TPL traded up $14.09 during trading hours on Thursday, hitting $807.56. 91,965 shares of the stock were exchanged, compared to its average volume of 107,756. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 42.18 and a beta of 1.63. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $834.52. The stock has a 50-day simple moving average of $713.58 and a 200-day simple moving average of $601.23.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. The company had revenue of $174.14 million for the quarter, compared to analysts’ expectations of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. Sell-side analysts expect that Texas Pacific Land Co. will post 21.2 EPS for the current year.

Texas Pacific Land Announces Dividend

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