Verus Capital Partners LLC Has $500,000 Holdings in Texas Pacific Land Co. (NYSE:TPL)

Verus Capital Partners LLC grew its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 296.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 864 shares of the financial services provider’s stock after purchasing an additional 646 shares during the period. Verus Capital Partners LLC’s holdings in Texas Pacific Land were worth $500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $36,000. CVA Family Office LLC acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $50,000. Signaturefd LLC boosted its position in shares of Texas Pacific Land by 30.8% during the 4th quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 8 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 30 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 0.6 %

Shares of TPL stock traded up $4.98 during trading hours on Tuesday, hitting $827.75. 24,677 shares of the company’s stock traded hands, compared to its average volume of 108,423. The stock’s 50 day simple moving average is $683.83 and its 200 day simple moving average is $587.68. The stock has a market cap of $19.03 billion, a PE ratio of 43.74 and a beta of 1.63. Texas Pacific Land Co. has a 12 month low of $454.04 and a 12 month high of $834.52.

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

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a None dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $10.00 per share. The ex-dividend date was Monday, July 1st. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TPL shares. BWS Financial reissued a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Friday, May 10th. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land 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.