Bradley Foster & Sargent Inc. CT Sells 815 Shares of Texas Pacific Land Co. (NYSE:TPL)

Bradley Foster & Sargent Inc. CT reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 19.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,460 shares of the financial services provider's stock after selling 815 shares during the quarter. Bradley Foster & Sargent Inc. CT's holdings in Texas Pacific Land were worth $2,540,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Mutual of America Capital Management LLC bought a new stake in Texas Pacific Land during the 2nd quarter valued at $7,827,000. Virtu Financial LLC purchased a new stake in shares of Texas Pacific Land during the second quarter worth about $849,000. Edgestream Partners L.P. bought a new stake in shares of Texas Pacific Land in the second quarter worth about $296,000. Mesirow Financial Investment Management Inc. purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $210,000. Finally, Dimensional Fund Advisors LP raised its position in Texas Pacific Land by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock valued at $92,632,000 after purchasing an additional 9,878 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL traded up $33.86 on Thursday, hitting $915.66. The company had a trading volume of 155,439 shares, compared to its average volume of 103,967. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $925.15. The stock has a fifty day simple moving average of $820.78 and a 200-day simple moving average of $691.70. The firm has a market capitalization of $21.04 billion, a P/E ratio of 48.68 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $172.33 million for 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 firm earned $4.35 earnings per share. Equities research analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.51%. Texas Pacific Land's payout ratio is 24.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TPL. BWS Financial reiterated a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research 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.