Trueblood Wealth Management LLC Purchases Shares of 252 Texas Pacific Land Co. (NYSE:TPL)

Trueblood Wealth Management LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 252 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other large investors have also recently modified their holdings of TPL. Mediolanum International Funds Ltd grew its holdings in Texas Pacific Land by 249.1% in the third quarter. Mediolanum International Funds Ltd now owns 4,531 shares of the financial services provider’s stock worth $4,013,000 after purchasing an additional 3,233 shares during the last quarter. Heritage Financial Services LLC purchased a new position in Texas Pacific Land during the 3rd quarter worth $218,000. Spirit of America Management Corp NY grew its stake in Texas Pacific Land by 11.5% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,505 shares of the financial services provider’s stock worth $1,332,000 after buying an additional 155 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Texas Pacific Land in the third quarter valued at about $331,000. Finally, IFM Investors Pty Ltd boosted its holdings in Texas Pacific Land by 43.3% in the third quarter. IFM Investors Pty Ltd now owns 5,082 shares of the financial services provider’s stock worth $4,496,000 after acquiring an additional 1,536 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,098.01 on Friday. The business has a fifty day moving average of $919.63 and a 200 day moving average of $774.52. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,106.87. The firm has a market capitalization of $25.23 billion, a price-to-earnings ratio of 56.48 and a beta of 1.60.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date 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 payout ratio is currently 24.07%.

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.