Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Pecaut & CO.

Pecaut & CO. trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 8.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,843 shares of the financial services provider's stock after selling 1,440 shares during the period. Texas Pacific Land makes up about 4.4% of Pecaut & CO.'s investment portfolio, making the stock its 6th biggest position. Pecaut & CO. owned 0.07% of Texas Pacific Land worth $11,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. grew its holdings 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 purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC increased its holdings in Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 41 shares in the last quarter. American National Bank bought a new position in Texas Pacific Land in the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Texas Pacific Land in the second quarter worth $44,000. Finally, IFS Advisors LLC grew its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock worth $38,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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 reiterated a "buy" rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock traded up $5.44 on Thursday, hitting $794.69. 43,909 shares of the company's stock traded hands, compared to its average volume of 103,838. The firm's 50-day moving average price is $813.23 and its two-hundred day moving average price is $681.40. The stock has a market capitalization of $18.27 billion, a PE ratio of 42.25 and a beta of 1.60. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $881.12.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $172.33 million during the quarter, compared to the consensus estimate 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 company posted $4.35 EPS. On average, analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors 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 payout ratio is presently 24.88%.

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.