Citigroup Inc. grew its holdings in Texas Pacific Land Co. (NYSE:TPL – Free Report) by 15.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,036 shares of the financial services provider’s stock after buying an additional 1,725 shares during the period. Citigroup Inc. owned 0.17% of Texas Pacific Land worth $22,174,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its position in shares of Texas Pacific Land by 0.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,033 shares of the financial services provider’s stock valued at $4,766,000 after purchasing an additional 6 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Texas Pacific Land by 1.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 546 shares of the financial services provider’s stock valued at $1,280,000 after acquiring an additional 6 shares during the period. Pathstone Family Office LLC raised its stake in shares of Texas Pacific Land by 0.3% in the 4th quarter. Pathstone Family Office LLC now owns 1,852 shares of the financial services provider’s stock valued at $4,342,000 after acquiring an additional 6 shares during the period. First Personal Financial Services grew its holdings in Texas Pacific Land by 9.0% during the 1st quarter. First Personal Financial Services now owns 109 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 9 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Texas Pacific Land by 1.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 575 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 9 shares in the last quarter. 60.40% of the stock is currently owned by institutional investors and hedge funds.
Texas Pacific Land Trading Up 0.8 %
NYSE TPL opened at $1,902.16 on Monday. Texas Pacific Land Co. has a 1-year low of $1,266.21 and a 1-year high of $2,739.00. The company has a market capitalization of $14.61 billion, a PE ratio of 35.19 and a beta of 1.82. The firm’s fifty day simple moving average is $1,541.95 and its 200-day simple moving average is $1,571.21.
Texas Pacific Land Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $3.25 dividend. This represents a $13.00 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 31st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.05%.
Analyst Ratings Changes
Several research firms have recently commented on TPL. Stifel Nicolaus upped their target price on Texas Pacific Land from $1,371.00 to $1,622.00 in a report on Friday, August 11th. StockNews.com assumed coverage on Texas Pacific Land in a report on Thursday, August 17th. They set a “hold” rating for the company.
Check Out Our Latest Stock Analysis on TPL
Texas Pacific Land Company Profile
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.
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