Creekmur Asset Management LLC Sells 739 Shares of Texas Pacific Land Co. (NYSE:TPL)

Creekmur Asset Management LLC trimmed its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 55.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600 shares of the financial services provider's stock after selling 739 shares during the quarter. Creekmur Asset Management LLC's holdings in Texas Pacific Land were worth $531,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock worth $1,099,867,000 after purchasing an additional 1,267,123 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Texas Pacific Land in the second quarter worth approximately $131,014,000. Bank of New York Mellon Corp increased its position in shares of Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock worth $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Mad River Investors increased its position in shares of 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 worth $57,921,000 after purchasing an additional 66,663 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider's stock worth $47,228,000 after purchasing an additional 60,400 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 4.0 %

Shares of Texas Pacific Land stock traded up $44.73 on Wednesday, hitting $1,153.63. The stock had a trading volume of 98,245 shares, compared to its average volume of 102,648. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,157.63. The stock has a market cap of $26.51 billion, a price-to-earnings ratio of 59.34 and a beta of 1.60. The stock's 50-day simple moving average is $937.02 and its two-hundred day simple moving average is $785.35.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts' consensus estimates 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 period in the previous year, the business earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.41%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is currently 24.07%.

Wall Street Analysts Forecast Growth

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

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.