First Foundation Advisors Sells 6,078 Shares of Texas Pacific Land Co. (NYSE:TPL)

First Foundation Advisors cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 96.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201 shares of the financial services provider's stock after selling 6,078 shares during the period. First Foundation Advisors' holdings in Texas Pacific Land were worth $148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Texas Pacific Land by 200.0% in 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 in the last quarter. GAMMA Investing LLC raised its position in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after acquiring an additional 41 shares in the last quarter. American National Bank acquired a new stake in Texas Pacific Land in the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Pacific Land in the 2nd quarter worth approximately $44,000. Finally, IFS Advisors LLC raised its holdings 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 worth $38,000 after purchasing an additional 44 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 0.2 %

NYSE:TPL traded up $1.60 during trading hours on Wednesday, hitting $789.25. 99,205 shares of the company traded hands, compared to its average volume of 104,181. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 41.85 and a beta of 1.60. The firm has a 50-day moving average of $811.50 and a 200 day moving average of $679.84. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $881.12.

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 the consensus estimate of $5.36 by ($0.38). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The firm had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the previous year, the business posted $4.35 EPS. Equities research analysts predict that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

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

Wall Street Analyst Weigh In

TPL has been the topic of a number of recent analyst reports. BWS Financial restated a "buy" rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th.

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.