Gabelli Funds LLC Buys 2,000 Shares of Texas Pacific Land Co. (NYSE:TPL)

Gabelli Funds LLC boosted its stake in Texas Pacific Land Co. (NYSE:TPL) by 200.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the period. Gabelli Funds LLC’s holdings in Texas Pacific Land were worth $1,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of Texas Pacific Land by 200.0% in the first 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 period. GAMMA Investing LLC grew its holdings 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 worth $31,000 after acquiring an additional 41 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Texas Pacific Land in the fourth quarter valued at about $36,000. IFS Advisors LLC increased its position in shares of Texas Pacific Land by 200.0% in the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 44 shares during the period. Finally, Halpern Financial Inc. raised its stake in shares of Texas Pacific Land by 200.0% during the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Trading Up 1.4 %

NYSE TPL traded up $11.29 during trading on Friday, hitting $818.85. The company had a trading volume of 56,610 shares, compared to its average volume of 96,377. The company’s fifty day moving average is $721.75 and its 200-day moving average is $605.45. The company has a market cap of $18.83 billion, a price-to-earnings ratio of 43.53 and a beta of 1.63. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $834.52.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 EPS for the quarter, topping 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 business had revenue of $174.14 million during the quarter, compared to analyst estimates of $158.20 million. As a group, equities analysts anticipate 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. Investors of record on Monday, July 1st were given a dividend of $10.00 per share. The ex-dividend date was Monday, July 1st. Texas Pacific Land’s dividend payout ratio is presently 24.88%.

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.