Louisiana State Employees Retirement System Buys Shares of 5,300 Texas Pacific Land Co. (NYSE:TPL)

Louisiana State Employees Retirement System purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,300 shares of the financial services provider’s stock, valued at approximately $3,892,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its position in Texas Pacific Land by 30.8% in the 4th quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings 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 valued at $26,000 after buying an additional 30 shares during the period. GAMMA Investing LLC lifted its holdings 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 worth $31,000 after acquiring an additional 41 shares during the period. American National Bank bought a new position in Texas Pacific Land during the second quarter worth about $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land in the second quarter valued at $44,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL traded up $18.47 during midday trading on Friday, reaching $848.40. The company’s stock had a trading volume of 17,393 shares, compared to its average volume of 105,534. The business’s fifty day simple moving average is $789.31 and its 200-day simple moving average is $646.66. The company has a market capitalization of $19.50 billion, a P/E ratio of 44.98 and a beta of 1.63. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $854.66.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same period in the prior year, the firm posted $4.35 earnings per share. On average, analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TPL shares. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Profile

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.