Texas Pacific Land Co. (NYSE:TPL) Stock Position Decreased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 54.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,929 shares of the financial services provider's stock after selling 6,000 shares during the period. Los Angeles Capital Management LLC's holdings in Texas Pacific Land were worth $3,619,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock worth $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 lifted its stake in shares of Texas Pacific Land by 200.0% in 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 acquired a new stake in Texas Pacific Land during the 2nd quarter worth approximately $42,000. Finally, Halpern Financial Inc. raised its holdings 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 valued at $44,000 after buying an additional 50 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

TPL traded down $3.87 during trading hours on Tuesday, reaching $787.65. 67,579 shares of the stock traded hands, compared to its average volume of 104,210. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $881.12. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 42.15 and a beta of 1.60. The firm's fifty day simple moving average is $810.46 and its two-hundred day simple moving average is $677.95.

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

Texas Pacific Land Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

About Texas Pacific Land

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.