Public Employees Retirement System of Ohio Grows Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Public Employees Retirement System of Ohio raised its holdings in Texas Pacific Land Co. (NYSE:TPL) by 174.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,134 shares of the financial services provider’s stock after buying an additional 4,535 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Texas Pacific Land were worth $4,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in Texas Pacific Land by 204.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Texas Pacific Land by 229.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after buying an additional 10,483 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after buying an additional 2,847 shares during the last quarter. Sandbox Financial Partners LLC raised its position in shares of Texas Pacific Land by 175.4% in the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after buying an additional 1,389 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Texas Pacific Land by 174.6% in the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock valued at $6,802,000 after acquiring an additional 7,476 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Trading Up 2.2 %

Shares of Texas Pacific Land stock opened at $844.90 on Thursday. The company has a fifty day moving average price of $734.75 and a 200 day moving average price of $612.28. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $852.22. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of 44.92 and a beta of 1.63.

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 the consensus estimate of $4.58 by $0.39. The company had revenue of $174.14 million during the quarter, compared to the consensus estimate of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. Analysts forecast that Texas Pacific Land Co. will post 21.2 earnings per share for the current year.

Texas Pacific Land Announces Dividend

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

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.