Edge Capital Group LLC Has $1.23 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Edge Capital Group LLC trimmed its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 35.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,671 shares of the financial services provider's stock after selling 921 shares during the period. Edge Capital Group LLC's holdings in Texas Pacific Land were worth $1,227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its holdings in 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 valued at $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC increased its stake 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 valued at $31,000 after acquiring an additional 41 shares during the period. IFS Advisors LLC raised its position in Texas Pacific Land by 200.0% in 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 in the last quarter. American National Bank bought a new position in Texas Pacific Land during the second quarter worth about $42,000. Finally, Halpern Financial Inc. grew its stake in shares of Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 50 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPL. StockNews.com lowered 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 report on Monday, August 12th.

Texas Pacific Land Price Performance

Shares of TPL traded up $17.05 on Monday, hitting $953.33. The company's stock had a trading volume of 95,138 shares, compared to its average volume of 105,075. The company has a market capitalization of $21.92 billion, a PE ratio of 49.78 and a beta of 1.60. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $957.72. The company has a 50 day moving average price of $826.09 and a 200 day moving average price of $698.95.

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 earnings per share (EPS) 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 company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same quarter last year, the company earned $4.35 EPS. On average, equities analysts forecast that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.49%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is 24.88%.

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.