Trust Co. of Vermont Raises Position in Texas Pacific Land Co. (NYSE:TPL)

Trust Co. of Vermont lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 200.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. Trust Co. of Vermont’s holdings in Texas Pacific Land were worth $1,101,000 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. increased its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC boosted its position in Texas Pacific Land by 315.4% in the 1st 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 last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Texas Pacific Land during the fourth quarter worth about $36,000. IFS Advisors LLC lifted its position in shares of Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. lifted its holdings in Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 50 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Trading Up 2.2 %

NYSE TPL traded up $16.87 during trading hours on Tuesday, reaching $772.92. The company’s stock had a trading volume of 81,430 shares, compared to its average volume of 106,624. The business has a 50-day simple moving average of $748.50 and a 200 day simple moving average of $621.17. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $854.66. The stock has a market cap of $17.77 billion, a PE ratio of 41.09 and a beta of 1.63.

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

Texas Pacific Land Announces Dividend

The company also recently declared 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 currently 24.88%.

Analysts Set New Price Targets

TPL has been the topic of a number of recent research reports. BWS Financial reissued a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a report on Friday, May 10th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th.

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.