Truist Financial Corp Has $937,000 Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Truist Financial Corp boosted its stake in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 527 shares of the financial services provider’s stock after buying an additional 19 shares during the period. Truist Financial Corp’s holdings in Texas Pacific Land were worth $937,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Avantax Advisory Services Inc. grew its stake in shares of Texas Pacific Land by 1.8% during the 2nd quarter. Avantax Advisory Services Inc. now owns 348 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 6 shares in the last quarter. Xponance Inc. grew its stake in shares of Texas Pacific Land by 1.0% during the 2nd quarter. Xponance Inc. now owns 674 shares of the financial services provider’s stock worth $1,003,000 after acquiring an additional 7 shares in the last quarter. Edge Capital Group LLC grew its stake in shares of Texas Pacific Land by 0.7% during the 2nd quarter. Edge Capital Group LLC now owns 1,007 shares of the financial services provider’s stock worth $1,498,000 after acquiring an additional 7 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Texas Pacific Land by 2.2% during the 2nd quarter. Whittier Trust Co. now owns 372 shares of the financial services provider’s stock worth $554,000 after acquiring an additional 8 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in shares of Texas Pacific Land by 0.9% during the 1st quarter. Utah Retirement Systems now owns 1,066 shares of the financial services provider’s stock worth $1,442,000 after acquiring an additional 9 shares in the last quarter. 58.95% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 0.2 %

NYSE:TPL opened at $2,094.49 on Friday. Texas Pacific Land Co. has a 1-year low of $946.29 and a 1-year high of $2,739.00. The firm has a fifty day simple moving average of $2,402.97 and a 200 day simple moving average of $2,070.52. The stock has a market capitalization of $16.14 billion, a PE ratio of 38.05 and a beta of 1.97.

Texas Pacific Land (NYSE:TPL – Get Rating) last released its earnings results on Wednesday, November 2nd. The financial services provider reported $16.82 earnings per share for the quarter, beating the consensus estimate of $14.38 by $2.44. The firm had revenue of $191.11 million during the quarter, compared to the consensus estimate of $175.67 million. On average, equities analysts predict that Texas Pacific Land Co. will post 59.96 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Texas Pacific Land in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Texas Pacific Land Company 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.