Private Advisor Group LLC Makes New $1.26 Million Investment in Texas Pacific Land Co. (NYSE:TPL)

Posted by Defense World Staff on Aug 28th, 2023

Private Advisor Group LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 741 shares of the financial services provider’s stock, valued at approximately $1,261,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kalos Management Inc. purchased a new stake in Texas Pacific Land in the 1st quarter worth approximately $26,000. Pacer Advisors Inc. purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $33,000. Fred Alger Management LLC purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at $41,000. Point72 Asset Management L.P. purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $42,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $59,000. 60.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TPL. Stifel Nicolaus lifted their target price on shares of Texas Pacific Land from $1,371.00 to $1,622.00 in a report on Friday, August 11th. StockNews.com began coverage on shares of Texas Pacific Land in a report on Thursday, August 17th. They set a “hold” rating on the stock.

View Our Latest Stock Analysis on Texas Pacific Land

Texas Pacific Land Stock Up 0.8 %

Shares of NYSE TPL opened at $1,902.16 on Monday. Texas Pacific Land Co. has a fifty-two week low of $1,266.21 and a fifty-two week high of $2,739.00. The business has a 50 day moving average price of $1,541.95 and a two-hundred day moving average price of $1,571.21. The firm has a market cap of $14.61 billion, a PE ratio of 35.19 and a beta of 1.82.

Texas Pacific Land (NYSE:TPL – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $13.05 EPS for the quarter, topping the consensus estimate of $11.11 by $1.94. The company had revenue of $160.61 million during the quarter, compared to analyst estimates of $143.24 million. Texas Pacific Land had a return on equity of 51.89% and a net margin of 64.00%. On average, analysts anticipate that Texas Pacific Land Co. will post 49.83 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $3.25 dividend. The ex-dividend date is Thursday, August 31st. This represents a $13.00 annualized dividend and a dividend yield of 0.68%. Texas Pacific Land’s payout ratio is 24.05%.

About Texas Pacific Land

(Free Report)

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages surface acres of land. This segment also holds own 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 located in the western part of Texas.