Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 19.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,011 shares of the financial services provider's stock after selling 732 shares during the period. Nisa Investment Advisors LLC's holdings in Texas Pacific Land were worth $2,664,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 valued at $1,099,867,000 after buying an additional 1,267,123 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in Texas Pacific Land in the 2nd quarter valued at about $131,014,000. Bank of New York Mellon Corp increased its stake in Texas Pacific Land by 74.2% during 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 period. Principal Financial Group Inc. lifted its position in shares of Texas Pacific Land by 1,541.2% during 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 in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Texas Pacific Land in the third quarter valued at approximately $45,400,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Up 0.6 %

NYSE:TPL traded up $6.62 during midday trading on Friday, reaching $1,172.62. The company had a trading volume of 112,345 shares, compared to its average volume of 81,478. The stock's fifty day simple moving average is $949.96 and its 200-day simple moving average is $792.07. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,189.91. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 60.32 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced 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). The company 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 in the previous year, the business posted $4.35 EPS.

Texas Pacific Land Announces Dividend

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 $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is presently 24.07%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a "buy" rating and set 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.