Raymond James Financial Services Advisors Inc. Purchases 20 Shares of Texas Pacific Land Co. (NYSE:TPL)

Raymond James Financial Services Advisors Inc. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 628 shares of the financial services provider’s stock after acquiring an additional 20 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Texas Pacific Land were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. bought a new stake in Texas Pacific Land during the second quarter worth $28,000. Federated Hermes Inc. bought a new stake in Texas Pacific Land during the first quarter worth $68,000. Covestor Ltd grew its holdings in Texas Pacific Land by 1,500.0% during the first quarter. Covestor Ltd now owns 96 shares of the financial services provider’s stock worth $130,000 after buying an additional 90 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Texas Pacific Land by 41.9% during the second quarter. Lindbrook Capital LLC now owns 88 shares of the financial services provider’s stock worth $131,000 after buying an additional 26 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Texas Pacific Land during the first quarter worth $137,000. Institutional investors own 58.95% of the company’s stock.

Texas Pacific Land Trading Up 0.2 %

TPL stock opened at $2,094.49 on Friday. The stock’s fifty day simple moving average is $2,402.97 and its two-hundred day simple moving average is $2,070.52. Texas Pacific Land Co. has a 1-year low of $946.29 and a 1-year high of $2,739.00. The stock has a market cap of $16.14 billion, a P/E ratio of 38.05 and a beta of 1.97.

Texas Pacific Land (NYSE:TPL – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $16.82 earnings per share for the quarter, topping the consensus estimate of $14.38 by $2.44. The business had revenue of $191.11 million during the quarter, compared to analysts’ expectations of $175.67 million. As a group, analysts forecast that Texas Pacific Land Co. will post 59.96 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 8th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 0.57%. Texas Pacific Land’s dividend payout ratio is presently 21.80%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Texas Pacific Land in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Texas Pacific Land Profile

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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 approximately 880,000 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.