Texas Pacific Land Co. (NYSE:TPL) is First Dallas Securities Inc.’s Largest Position

First Dallas Securities Inc. raised its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 196.3% in the first quarter, Holdings Channel reports. The institutional investor owned 28,935 shares of the financial services provider’s stock after acquiring an additional 19,171 shares during the period. Texas Pacific Land comprises about 7.7% of First Dallas Securities Inc.’s portfolio, making the stock its biggest holding. First Dallas Securities Inc.’s holdings in Texas Pacific Land were worth $16,739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Texas Pacific Land by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 634,083 shares of the financial services provider’s stock valued at $997,064,000 after buying an additional 8,155 shares during the last quarter. Hodges Capital Management Inc. increased its holdings 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 valued at $44,625,000 after buying an additional 43,726 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position in shares of Texas Pacific Land by 1.3% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 66,861 shares of the financial services provider’s stock worth $105,136,000 after purchasing an additional 832 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Texas Pacific Land by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,776 shares of the financial services provider’s stock worth $67,263,000 after purchasing an additional 2,376 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Texas Pacific Land by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 35,480 shares of the financial services provider’s stock worth $55,798,000 after purchasing an additional 3,903 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL traded up $0.43 during mid-day trading on Friday, reaching $734.27. The stock had a trading volume of 198,640 shares, compared to its average volume of 314,041. The business has a fifty day moving average of $643.61 and a 200 day moving average of $569.65. Texas Pacific Land Co. has a 12 month low of $429.56 and a 12 month high of $799.46. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 39.04 and a beta of 1.59.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $174.14 million during the quarter, compared to analyst estimates of $158.20 million. On average, research analysts forecast that Texas Pacific Land Co. will post 21.2 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently announced a None dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $10.00 per share. The ex-dividend date is Monday, July 1st. Texas Pacific Land’s dividend payout ratio is 24.88%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPL. BWS Financial reiterated a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report on Friday, May 10th. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Company 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.