Adirondack Retirement Specialists Inc. Purchases 13 Shares of Texas Pacific Land Co. (NYSE:TPL)

Adirondack Retirement Specialists Inc. grew its position in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305 shares of the financial services provider’s stock after purchasing an additional 13 shares during the period. Texas Pacific Land comprises about 0.7% of Adirondack Retirement Specialists Inc.’s holdings, making the stock its 17th largest holding. Adirondack Retirement Specialists Inc.’s holdings in Texas Pacific Land were worth $715,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of Texas Pacific Land by 249.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 880 shares of the financial services provider’s stock valued at $2,063,000 after acquiring an additional 628 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $89,000. One Charles Private Wealth Services LLC lifted its stake in shares of Texas Pacific Land by 20.0% in the 4th quarter. One Charles Private Wealth Services LLC now owns 5,732 shares of the financial services provider’s stock valued at $13,437,000 after acquiring an additional 956 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $33,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Texas Pacific Land by 53.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 138 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 58.95% of the company’s stock.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,346.02 on Monday. Texas Pacific Land Co. has a 1 year low of $1,325.33 and a 1 year high of $2,739.00. The company has a market cap of $10.35 billion, a PE ratio of 23.88 and a beta of 1.87. The stock’s 50-day moving average is $1,575.08 and its 200 day moving average is $1,994.43.

Texas Pacific Land (NYSE:TPL – Get Rating) last posted its earnings results on Wednesday, February 22nd. The financial services provider reported $12.94 earnings per share for the quarter, missing analysts’ consensus estimates of $15.14 by ($2.20). Texas Pacific Land had a return on equity of 58.62% and a net margin of 65.28%. The firm had revenue of $152.71 million for the quarter, compared to analysts’ expectations of $171.71 million. Analysts expect that Texas Pacific Land Co. will post 51.22 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 8th will be issued a dividend of $3.25 per share. The ex-dividend date is Wednesday, June 7th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 0.97%. Texas Pacific Land’s dividend payout ratio (DPR) is 23.06%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TPL. Stifel Nicolaus boosted their price target on Texas Pacific Land from $1,396.00 to $1,399.00 in a report on Thursday, April 27th. StockNews.com began coverage on Texas Pacific Land in a report on Thursday. They set a “hold” rating on the stock.

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.