FARMERS & MERCHANTS TRUST Co OF LONG BEACH Makes New Investment in Texas Pacific Land Trust (NYSE:TPL)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in Texas Pacific Land Trust (NYSE:TPL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 450 shares of the financial services provider’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Campbell Wealth Management purchased a new stake in Texas Pacific Land Trust in the second quarter worth about $45,000. Acadian Asset Management LLC purchased a new stake in Texas Pacific Land Trust in the first quarter worth about $38,000. Toronto Dominion Bank purchased a new stake in shares of Texas Pacific Land Trust during the first quarter valued at approximately $61,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Texas Pacific Land Trust by 130.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 244 shares of the financial services provider’s stock valued at $92,000 after buying an additional 138 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Texas Pacific Land Trust by 20.4% during the first quarter. Legal & General Group Plc now owns 266 shares of the financial services provider’s stock valued at $101,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 43.73% of the company’s stock.

TPL stock traded down $21.58 on Friday, hitting $532.99. The company had a trading volume of 40,035 shares, compared to its average volume of 16,828. Texas Pacific Land Trust has a 12-month low of $295.05 and a 12-month high of $838.50. The company has a current ratio of 13.83, a quick ratio of 13.83 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $582.51 and its 200 day simple moving average is $594.86. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 19.10 and a beta of 1.98.

Texas Pacific Land Trust (NYSE:TPL) last issued its earnings results on Thursday, July 30th. The financial services provider reported $3.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.24 by ($2.68). Texas Pacific Land Trust had a return on equity of 46.33% and a net margin of 59.59%. The company had revenue of $54.57 million during the quarter, compared to analysts’ expectations of $83.00 million. Research analysts forecast that Texas Pacific Land Trust will post 28.04 earnings per share for the current year.

A number of research firms have recently commented on TPL. Zacks Investment Research upgraded shares of Texas Pacific Land Trust from a “hold” rating to a “strong-buy” rating and set a $674.00 price target on the stock in a report on Tuesday, June 2nd. TheStreet upgraded shares of Texas Pacific Land Trust from a “c+” rating to a “b-” rating in a report on Friday, May 22nd.

In other Texas Pacific Land Trust news, major shareholder Kinetics Asset Managem Horizon purchased 172 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were acquired at an average cost of $575.01 per share, for a total transaction of $98,901.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 5,025 shares of company stock worth $2,917,296 over the last quarter. Insiders own 0.92% of the company’s stock.

Texas Pacific Land Trust Profile

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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Institutional Ownership by Quarter for Texas Pacific Land Trust (NYSE:TPL)

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