Mediolanum International Funds Ltd Buys 3,233 Shares of Texas Pacific Land Co. (NYSE:TPL)

Mediolanum International Funds Ltd raised its stake in Texas Pacific Land Co. (NYSE:TPL) by 249.1% during the 3rd quarter, Holdings Channel reports. The fund owned 4,531 shares of the financial services provider’s stock after acquiring an additional 3,233 shares during the period. Mediolanum International Funds Ltd’s holdings in Texas Pacific Land were worth $4,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. American National Bank bought a new stake in Texas Pacific Land in the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land in the second quarter valued at about $44,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land in the third quarter valued at about $44,000. Signaturefd LLC increased its position in Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in Texas Pacific Land by 200.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 96 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $1,098.01 on Friday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,106.87. The company has a market cap of $25.23 billion, a price-to-earnings ratio of 56.48 and a beta of 1.60. The stock has a fifty day moving average price of $919.63 and a 200-day moving average price of $774.52.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter in the previous year, the firm posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.43%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.07%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th.

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.