Gamco Investors INC. ET AL Purchases 5,716 Shares of Texas Pacific Land Co. (NYSE:TPL)

Gamco Investors INC. ET AL boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 210.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,428 shares of the financial services provider’s stock after purchasing an additional 5,716 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Texas Pacific Land were worth $4,876,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in shares of Texas Pacific Land by 117.8% during the first quarter. Toronto Dominion Bank now owns 1,629 shares of the financial services provider’s stock worth $942,000 after acquiring an additional 881 shares during the last quarter. Shell Asset Management Co. grew its stake in shares of Texas Pacific Land by 108.6% during the first quarter. Shell Asset Management Co. now owns 438 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 228 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Texas Pacific Land by 60.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,263 shares of the financial services provider’s stock worth $5,937,000 after acquiring an additional 3,863 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Texas Pacific Land by 207.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,030 shares of the financial services provider’s stock worth $8,685,000 after acquiring an additional 10,143 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of Texas Pacific Land by 197.1% during the first quarter. American International Group Inc. now owns 309 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 205 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BWS Financial restated a “buy” rating and set a $917.00 price target 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 note on Tuesday, June 18th.

Texas Pacific Land Stock Performance

NYSE TPL traded up $11.29 during trading hours on Friday, reaching $818.85. The stock had a trading volume of 56,610 shares, compared to its average volume of 96,377. The stock has a fifty day moving average of $721.75 and a 200 day moving average of $605.45. The stock has a market cap of $18.83 billion, a P/E ratio of 43.53 and a beta of 1.63. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week 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 analysts’ consensus estimates of $4.58 by $0.39. The business had revenue of $174.14 million for the quarter, compared to analysts’ expectations of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. On average, equities research analysts forecast that Texas Pacific Land Co. will post 21.2 EPS for the current year.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a None dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $10.00 per share. The ex-dividend date was Monday, July 1st. Texas Pacific Land’s payout ratio is 24.88%.

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.