Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 33.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,800 shares of the financial services provider's stock after selling 3,463 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Texas Pacific Land were worth $4,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its stake in Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider's stock valued at $584,000 after buying an additional 678 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of 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 purchasing an additional 10,483 shares during the period. Van ECK Associates Corp boosted its stake in Texas Pacific Land by 220.7% in the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider's stock worth $2,393,000 after buying an additional 2,847 shares during the last quarter. Sandbox Financial Partners LLC grew its holdings in Texas Pacific Land by 175.4% in the first 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. grew its stake in shares of Texas Pacific Land by 174.6% during 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 buying an additional 7,476 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPL has been the topic of several research analyst reports. BWS Financial reaffirmed a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th.

Texas Pacific Land Trading Up 1.1 %

NYSE:TPL traded up $10.91 during mid-day trading on Friday, hitting $981.37. The company had a trading volume of 100,496 shares, compared to its average volume of 102,541. The business has a fifty day simple moving average of $848.83 and a 200-day simple moving average of $725.18. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 52.17 and a beta of 1.60. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $990.84.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations 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 last year, the company posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land's dividend payout ratio (DPR) 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.