Edgestream Partners L.P. purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 1,250 shares of the financial services provider’s stock, valued at approximately $1,646,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kalos Management Inc. bought a new position in shares of Texas Pacific Land during the first quarter worth $26,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Texas Pacific Land by 250.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 15 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Texas Pacific Land during the third quarter worth $41,000. CVA Family Office LLC acquired a new stake in shares of Texas Pacific Land during the second quarter worth $42,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth $42,000. 60.40% of the stock is owned by institutional investors.
Texas Pacific Land Stock Down 0.8 %
Shares of NYSE:TPL opened at $1,638.42 on Tuesday. Texas Pacific Land Co. has a 12 month low of $1,266.21 and a 12 month high of $2,668.98. The company’s fifty day simple moving average is $1,802.52 and its 200 day simple moving average is $1,618.71. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 32.14 and a beta of 1.75.
Texas Pacific Land Dividend Announcement
Insiders Place Their Bets
In other Texas Pacific Land news, VP Micheal W. Dobbs sold 100 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $1,851.77, for a total transaction of $185,177.00. Following the sale, the vice president now directly owns 268 shares of the company’s stock, valued at approximately $496,274.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 103 shares of company stock valued at $186,172 in the last three months. 20.04% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages recently commented on TPL. StockNews.com began coverage on shares of Texas Pacific Land in a report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus raised their price objective on shares of Texas Pacific Land from $1,371.00 to $1,622.00 in a report on Friday, August 11th.
About Texas Pacific Land
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 surface 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.
- Five stocks we like better than Texas Pacific Land
- Technology Stocks Explained: Here’s What to Know About Tech
- Safeguard your portfolio with these three bargain stocks
- Large Cap Stock Definition and How to Invest
- Membership clubs gain leverage for the consumer rebound
- 10 Best Airline Stocks to Buy
- Advanced Auto Parts may be worth more in pieces than the whole
Receive News & Ratings for Texas Pacific Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Pacific Land and related companies with MarketBeat.com's FREE daily email newsletter.