Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 25.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,422 shares of the financial services provider's stock after selling 1,195 shares during the quarter. Anchor Capital Advisors LLC's holdings in Texas Pacific Land were worth $2,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Texas Pacific Land in the second quarter valued at $1,216,000. New Mexico Educational Retirement Board acquired a new stake in shares of Texas Pacific Land in the 2nd quarter valued at about $2,790,000. Private Advisor Group LLC grew its stake in Texas Pacific Land by 4.8% during the 2nd quarter. Private Advisor Group LLC now owns 3,630 shares of the financial services provider's stock worth $2,665,000 after buying an additional 166 shares during the last quarter. Arizona State Retirement System grew its stake in Texas Pacific Land by 6.0% during the 2nd quarter. Arizona State Retirement System now owns 5,371 shares of the financial services provider's stock worth $3,944,000 after buying an additional 304 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Texas Pacific Land by 51.0% during the second quarter. Victory Capital Management Inc. now owns 14,617 shares of the financial services provider's stock worth $10,733,000 after buying an additional 4,934 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TPL. BWS Financial restated a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com cut Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th.

Texas Pacific Land Trading Down 0.7 %

Shares of NYSE:TPL traded down $5.61 during trading on Monday, hitting $792.90. 66,432 shares of the stock were exchanged, compared to its average volume of 104,421. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $881.12. The company has a market cap of $18.22 billion, a PE ratio of 41.96 and a beta of 1.60. The company has a fifty day moving average price of $809.09 and a two-hundred day moving average price of $676.04.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.36 by ($0.38). The business had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the previous year, the firm posted $4.35 EPS. Equities research analysts anticipate that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

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.