Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,737 shares of the financial services provider's stock after selling 391 shares during the quarter. Bridges Investment Management Inc. owned about 0.06% of Texas Pacific Land worth $11,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Texas Pacific Land by 199.8% during the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock worth $149,920,000 after acquiring an additional 86,975 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 2nd quarter worth $131,014,000. Dimensional Fund Advisors LP lifted its stake in shares of Texas Pacific Land by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock worth $92,632,000 after purchasing an additional 9,878 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider's stock valued at $47,228,000 after purchasing an additional 60,400 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Up 2.9 %

Shares of Texas Pacific Land stock traded up $38.75 during trading on Friday, reaching $1,374.06. The company's stock had a trading volume of 164,195 shares, compared to its average volume of 103,936. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,417.72. The company has a 50-day simple moving average of $993.11 and a two-hundred day simple moving average of $816.85. The company has a market cap of $31.57 billion, a price-to-earnings ratio of 70.56 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts' consensus estimates of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to analysts' expectations of $182.35 million. Texas Pacific Land had a net margin of 65.34% and a return on equity of 39.92%. During the same period last year, the firm earned $4.35 earnings per share.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Texas Pacific Land's previous quarterly dividend of $1.17. Texas Pacific Land's payout ratio is currently 32.84%.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a "buy" rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th.

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.