Bar Harbor Wealth Management Lowers Stake in Texas Pacific Land Co. (NYSE:TPL)

Bar Harbor Wealth Management trimmed its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,835 shares of the financial services provider's stock after selling 560 shares during the period. Texas Pacific Land comprises about 1.2% of Bar Harbor Wealth Management's portfolio, making the stock its 18th largest holding. Bar Harbor Wealth Management owned approximately 0.10% of Texas Pacific Land worth $19,318,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPL. Vanguard Group Inc. boosted its position in Texas Pacific Land by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 634,083 shares of the financial services provider's stock worth $997,064,000 after acquiring an additional 8,155 shares during the last quarter. CWM LLC boosted its holdings in shares of Texas Pacific Land by 220.5% during the 1st quarter. CWM LLC now owns 141 shares of the financial services provider's stock worth $82,000 after purchasing an additional 97 shares during the last quarter. NBC Securities Inc. grew its position in shares of Texas Pacific Land by 200.0% in the first quarter. NBC Securities Inc. now owns 597 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 398 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Texas Pacific Land by 220.4% in the first quarter. Los Angeles Capital Management LLC now owns 10,929 shares of the financial services provider's stock valued at $6,323,000 after purchasing an additional 7,518 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after buying an additional 41 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 0.7 %

NYSE:TPL traded down $7.48 on Friday, hitting $1,058.54. The stock had a trading volume of 79,504 shares, compared to its average volume of 104,226. The company has a fifty day moving average price of $888.62 and a two-hundred day moving average price of $752.49. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 54.53 and a beta of 1.60. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,077.25.

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). 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 during the quarter, compared to analysts' expectations of $182.35 million. During the same quarter in the previous 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. Investors of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.44%. Texas Pacific Land's dividend payout ratio (DPR) is currently 24.07%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a "buy" rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.

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.