Texas Pacific Land Trust (NYSE:TPL) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Shares of Texas Pacific Land Trust (NYSE TPL) opened at 368.30 on Thursday. Texas Pacific Land Trust has a 1-year low of $170.00 and a 1-year high of $387.50. The stock has a market cap of $2.89 billion, a PE ratio of 56.60 and a beta of 0.99. The stock’s 50 day moving average is $332.60 and its 200-day moving average is $302.26.

Texas Pacific Land Trust (NYSE:TPL) last announced its quarterly earnings data 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 firm had revenue of $27.36 million during the quarter.

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Several hedge funds have recently made changes to their positions in the stock. Steinberg Global Asset Management boosted its stake in shares of 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. Fernwood Investment Management LLC boosted its stake in shares of Texas Pacific Land Trust by 82.1% in the second quarter. Fernwood Investment Management LLC now owns 2,695 shares of the financial services provider’s stock valued at $792,000 after buying an additional 1,215 shares during the period. Ingalls & Snyder LLC boosted its stake in shares of Texas Pacific Land Trust by 21.1% in the second quarter. Ingalls & Snyder LLC now owns 1,150 shares of the financial services provider’s stock valued at $338,000 after buying an additional 200 shares during the period. Lagoda Investment Management L.P. boosted its stake in shares of Texas Pacific Land Trust by 5.3% in the second quarter. Lagoda Investment Management L.P. now owns 9,833 shares of the financial services provider’s stock valued at $2,889,000 after buying an additional 497 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Texas Pacific Land Trust by 10.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,841 shares of the financial services provider’s stock valued at $541,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 40.00% of the company’s stock.

About Texas Pacific Land Trust

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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