Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Cut by Mad River Investors

Mad River Investors reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,310 shares of the financial services provider's stock after selling 811 shares during the quarter. Texas Pacific Land accounts for approximately 48.9% of Mad River Investors' portfolio, making the stock its largest holding. Mad River Investors owned about 0.43% of Texas Pacific Land worth $72,920,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its stake in Texas Pacific Land by 200.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock worth $26,000 after acquiring an additional 30 shares during the period. GAMMA Investing LLC lifted its position in shares of Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after purchasing an additional 41 shares during the period. IFS Advisors LLC boosted its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. American National Bank purchased a new position in shares of Texas Pacific Land during the second quarter valued at about $42,000. Finally, Halpern Financial Inc. raised its stake in Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock worth $44,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 1.4 %

Shares of NYSE:TPL traded down $11.03 on Thursday, hitting $792.73. 77,811 shares of the company traded hands, compared to its average volume of 104,878. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $881.12. The stock has a 50 day simple moving average of $806.60 and a 200-day simple moving average of $670.72. The company has a market cap of $18.22 billion, a PE ratio of 42.10 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The business 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 66.71% and a return on equity of 41.29%. During the same quarter in the prior year, the business posted $4.35 earnings per share. As a group, sell-side analysts anticipate that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is currently 24.88%.

Wall Street Analyst Weigh In

TPL has been the subject of several recent research reports. StockNews.com lowered Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th. 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 Company 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.