800 Shares in Texas Pacific Land Co. (NYSE:TPL) Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 800 shares of the financial services provider’s stock, valued at approximately $463,000. Texas Pacific Land makes up about 1.2% of Cannon Global Investment Management LLC’s holdings, making the stock its 26th largest holding.

A number of other large investors also recently bought and sold shares of the business. NEOS Investment Management LLC raised its stake in Texas Pacific Land by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock worth $231,000 after buying an additional 7 shares in the last quarter. Arizona State Retirement System grew its holdings in Texas Pacific Land by 0.5% in the fourth quarter. Arizona State Retirement System now owns 1,687 shares of the financial services provider’s stock worth $2,653,000 after purchasing an additional 8 shares during the last quarter. Signaturefd LLC grew its holdings in Texas Pacific Land by 30.8% in the fourth quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 8 shares during the last quarter. Balentine LLC grew its holdings in Texas Pacific Land by 3.7% in the fourth quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 10 shares during the last quarter. Finally, First Personal Financial Services grew its holdings in Texas Pacific Land by 6.8% in the fourth quarter. First Personal Financial Services now owns 173 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Friday, May 10th.

Texas Pacific Land Stock Up 0.1 %

Shares of TPL traded up $0.43 during trading hours on Friday, reaching $734.27. 198,640 shares of the company traded hands, compared to its average volume of 314,041. The stock has a market capitalization of $16.88 billion, a P/E ratio of 39.04 and a beta of 1.59. Texas Pacific Land Co. has a 12-month low of $429.56 and a 12-month high of $799.46. The business has a fifty day moving average price of $643.61 and a 200-day moving average price of $569.65.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. The firm had revenue of $174.14 million for the quarter, compared to analyst estimates of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. As a group, research analysts predict that Texas Pacific Land Co. will post 21.2 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently announced a None dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $10.00 per share. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land’s dividend payout ratio is presently 24.88%.

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.