TD Asset Management Inc Has $1.90 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

TD Asset Management Inc grew its position in Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 110.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 809 shares of the financial services provider’s stock after buying an additional 424 shares during the period. TD Asset Management Inc’s holdings in Texas Pacific Land were worth $1,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Texas Pacific Land by 18.8% in the 3rd quarter. BlackRock Inc. now owns 345,031 shares of the financial services provider’s stock worth $613,200,000 after purchasing an additional 54,723 shares during the period. Lion Long Term Partners LP acquired a new position in Texas Pacific Land in the 4th quarter worth $118,618,000. Vanguard Group Inc. boosted its stake in Texas Pacific Land by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 629,117 shares of the financial services provider’s stock worth $850,635,000 after purchasing an additional 47,484 shares during the period. State Street Corp boosted its stake in Texas Pacific Land by 17.0% in the 1st quarter. State Street Corp now owns 153,483 shares of the financial services provider’s stock worth $207,526,000 after purchasing an additional 22,265 shares during the period. Finally, Continental Investors Services Inc. boosted its stake in Texas Pacific Land by 6,300.0% in the 3rd quarter. Continental Investors Services Inc. now owns 19,584 shares of the financial services provider’s stock worth $33,949,000 after purchasing an additional 19,278 shares during the period. Institutional investors and hedge funds own 58.95% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,399.68 on Tuesday. The company’s 50-day moving average price is $1,650.73 and its two-hundred day moving average price is $2,049.35. Texas Pacific Land Co. has a one year low of $1,250.01 and a one year high of $2,739.00. The stock has a market capitalization of $10.76 billion, a PE ratio of 24.83 and a beta of 1.87.

Texas Pacific Land (NYSE:TPL – Get Rating) last issued its earnings results on Wednesday, February 22nd. The financial services provider reported $12.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $15.14 by ($2.20). The firm had revenue of $152.71 million for the quarter, compared to the consensus estimate of $171.71 million. On average, analysts anticipate that Texas Pacific Land Co. will post 54.93 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 8th will be issued a $3.25 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 0.93%. Texas Pacific Land’s payout ratio is 23.06%.

Analyst Ratings Changes

TPL has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Texas Pacific Land in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Stifel Nicolaus boosted their price target on shares of Texas Pacific Land from $1,396.00 to $1,399.00 in a research report on Thursday, April 27th.

Texas Pacific Land Company Profile

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Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.