Hunter Associates Investment Management LLC Buys 320 Shares of Texas Pacific Land Co. (NYSE:TPL)

Hunter Associates Investment Management LLC grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 5.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,964 shares of the financial services provider’s stock after purchasing an additional 320 shares during the quarter. Texas Pacific Land accounts for 0.8% of Hunter Associates Investment Management LLC’s holdings, making the stock its 29th largest position. Hunter Associates Investment Management LLC’s holdings in Texas Pacific Land were worth $5,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land in the third quarter worth $44,000. American National Bank bought a new stake in Texas Pacific Land in the second quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land in the second quarter worth $44,000. Signaturefd LLC increased its position in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Texas Pacific Land by 880.0% during the third quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock worth $87,000 after buying an additional 88 shares during the period. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Stock Down 0.6 %

NYSE TPL opened at $1,091.59 on Tuesday. The company has a fifty day moving average of $924.62 and a two-hundred day moving average of $779.22. The firm has a market capitalization of $25.08 billion, a price-to-earnings ratio of 56.15 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,106.87.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period in the previous year, the firm earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend 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.