Sequoia Financial Advisors LLC Makes New $14.95 Million Investment in Texas Pacific Land Co. (NYSE:TPL)

Sequoia Financial Advisors LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,896 shares of the financial services provider's stock, valued at approximately $14,949,000. Sequoia Financial Advisors LLC owned 0.07% of Texas Pacific Land as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TPL. Benjamin F. Edwards & Company Inc. raised its position in shares of Texas Pacific Land by 200.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 41 shares during the period. American National Bank bought a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $44,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land in the third quarter valued at approximately $44,000. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded up $17.16 during midday trading on Tuesday, reaching $1,091.73. 69,792 shares of the stock were exchanged, compared to its average volume of 103,956. The company's fifty day moving average is $898.17 and its 200-day moving average is $761.69. The firm has a market cap of $25.09 billion, a PE ratio of 56.16 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,095.75.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts' consensus estimates of $5.36 by ($0.38). The firm had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period last year, the company posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 24.07%.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Company 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.