Eastern Bank purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 125 shares of the financial services provider’s stock, valued at approximately $111,000.
Several other institutional investors and hedge funds have also bought and sold shares of TPL. GAMMA Investing LLC raised its holdings in shares of Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 41 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in shares of Texas Pacific Land by 1,185.7% in the 1st quarter. Janiczek Wealth Management LLC now owns 90 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 83 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Texas Pacific Land by 559.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,242 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 7,840 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of Texas Pacific Land by 201.1% during the 1st quarter. Financial Management Professionals Inc. now owns 524 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 350 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of 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 period. Hedge funds and other institutional investors own 59.94% of the company’s stock.
Texas Pacific Land Trading Up 0.5 %
Shares of Texas Pacific Land stock opened at $1,089.97 on Friday. The business has a fifty day simple moving average of $914.13 and a two-hundred day simple moving average of $769.64. The firm has a market capitalization of $25.05 billion, a P/E ratio of 56.07 and a beta of 1.60. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,095.75.
Texas Pacific Land Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is 24.07%.
Analysts Set New Price Targets
Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Monday, August 12th.
Check Out Our Latest Report on Texas Pacific Land
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.
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