Gabelli Funds LLC Has $1.74 Million Holdings in Texas Pacific Land Co. (NYSE:TPL)

Gabelli Funds LLC lifted its position in Texas Pacific Land Co. (NYSE:TPL) by 200.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Gabelli Funds LLC’s holdings in Texas Pacific Land were worth $1,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 30 shares in the last quarter. GAMMA Investing LLC lifted its stake in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 41 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Texas Pacific Land during the fourth quarter valued at approximately $36,000. IFS Advisors LLC grew its stake in shares of Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the period. Finally, Halpern Financial Inc. raised its holdings in shares of Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after buying an additional 50 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Price Performance

Shares of TPL traded up $11.29 on Friday, hitting $818.85. The company’s stock had a trading volume of 56,610 shares, compared to its average volume of 96,377. The company has a market capitalization of $18.83 billion, a PE ratio of 43.53 and a beta of 1.63. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $834.52. The company has a 50 day moving average price of $721.75 and a 200 day moving average price of $605.45.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.39. The company had revenue of $174.14 million for the quarter, compared to analyst estimates of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. On average, equities analysts forecast that Texas Pacific Land Co. will post 21.2 EPS for the current year.

Texas Pacific Land Announces Dividend

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

Analysts Set New Price Targets

TPL has been the topic of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research note on Friday, May 10th. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report 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.