First Financial Bankshares Inc Boosts Stake in Texas Pacific Land Co. (NYSE:TPL)

First Financial Bankshares Inc lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 2.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 754 shares of the financial services provider’s stock after purchasing an additional 16 shares during the period. First Financial Bankshares Inc’s holdings in Texas Pacific Land were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American National Bank acquired a new stake in Texas Pacific Land in the 2nd quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Pacific Land during the second quarter worth about $44,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land during the third quarter worth about $44,000. Signaturefd LLC boosted its holdings in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 13 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Texas Pacific Land by 200.0% in the first quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 96 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of TPL opened at $1,098.01 on Monday. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,106.87. The firm’s 50 day moving average is $919.63 and its 200-day moving average is $775.77. The stock has a market capitalization of $25.23 billion, a P/E ratio of 56.48 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the prior year, the business posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.07%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th.

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.