Ensign Peak Advisors Inc Has $6.26 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Ensign Peak Advisors Inc reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,520 shares of the financial services provider's stock after selling 820 shares during the period. Ensign Peak Advisors Inc's holdings in Texas Pacific Land were worth $6,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPL. Avantax Advisory Services Inc. boosted its position in shares of Texas Pacific Land by 204.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider's stock worth $584,000 after buying an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Texas Pacific Land by 229.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider's stock worth $8,709,000 after acquiring an additional 10,483 shares during the period. Van ECK Associates Corp grew its stake in Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider's stock valued at $2,393,000 after acquiring an additional 2,847 shares in the last quarter. Sandbox Financial Partners LLC increased its holdings in shares of Texas Pacific Land by 175.4% in the 1st quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider's stock valued at $1,262,000 after purchasing an additional 1,389 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider's stock valued at $6,802,000 after purchasing an additional 7,476 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Trading Down 5.8 %

TPL stock traded down $53.83 during mid-day trading on Thursday, hitting $873.90. The stock had a trading volume of 101,262 shares, compared to its average volume of 105,276. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 46.46 and a beta of 1.60. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $959.50. The company has a fifty day moving average of $834.36 and a 200 day moving average of $707.90.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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). The business 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 period in the previous year, the business posted $4.35 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's payout ratio is presently 24.88%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. 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 lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research note 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.