Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Lowered by Tobam

Tobam lowered its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 11.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,263 shares of the financial services provider's stock after selling 537 shares during the quarter. Tobam's holdings in Texas Pacific Land were worth $3,772,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPL. Vanguard Group Inc. increased its holdings in Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock valued at $149,920,000 after buying an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land during the second quarter worth approximately $131,014,000. Dimensional Fund Advisors LP increased its stake in shares of Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock worth $92,632,000 after buying an additional 9,878 shares during the last quarter. Finally, Mad River Investors raised its holdings in Texas Pacific Land by 199.2% in the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider's stock valued at $57,921,000 after acquiring an additional 66,663 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of 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 set a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded up $22.26 during trading on Thursday, hitting $1,002.41. 103,745 shares of the stock were exchanged, compared to its average volume of 104,337. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,006.00. The stock's fifty day moving average is $857.71 and its 200 day moving average is $733.89. The stock has a market cap of $23.04 billion, a PE ratio of 53.10 and a beta of 1.60.

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 (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 business had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the prior year, the firm 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. Investors of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is currently 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.