First Manhattan Co. held its position in Texas Pacific Land Trust (NYSE:TPL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,606 shares of the financial services provider’s stock at the end of the second quarter. First Manhattan Co. owned approximately 2.02% of Texas Pacific Land Trust worth $46,889,000 at the end of the most recent quarter.
Separately, Steinberg Global Asset Management raised its stake in Texas Pacific Land Trust by 26.3% in the second quarter. Steinberg Global Asset Management now owns 12,750 shares of the financial services provider’s stock valued at $3,746,000 after buying an additional 2,655 shares during the period. 40.00% of the stock is owned by institutional investors and hedge funds.
Texas Pacific Land Trust (TPL) traded up 0.85% during mid-day trading on Friday, reaching $368.30. The company had a trading volume of 17,787 shares. The stock has a market capitalization of $2.89 billion, a P/E ratio of 56.60 and a beta of 0.99. Texas Pacific Land Trust has a 12-month low of $170.00 and a 12-month high of $387.50. The stock has a 50 day moving average price of $332.60 and a 200-day moving average price of $302.26.
Texas Pacific Land Trust (NYSE:TPL) last posted its quarterly earnings results on Monday, July 31st. The financial services provider reported $2.12 EPS for the quarter. Texas Pacific Land Trust had a net margin of 73.06% and a return on equity of 112.96%. The company had revenue of $27.36 million for the quarter.
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Separately, BidaskClub raised Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a report on Monday, July 31st.
Texas Pacific Land Trust Company Profile
Texas Pacific Land Trust (the Trust) is engaged in managing land, including royalty interests, for the benefit of its owners. The Company operates through managing the land segment, which includes sales and leases of such land, and the retention of oil and gas royalties. The Trust derives revenue from all avenues of managing the land, such as oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales.
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