Cortland Associates Inc. MO Cuts Position in Texas Pacific Land Co. (NYSE:TPL)

Cortland Associates Inc. MO trimmed its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,263 shares of the financial services provider's stock after selling 840 shares during the quarter. Texas Pacific Land accounts for approximately 4.4% of Cortland Associates Inc. MO's holdings, making the stock its 11th biggest holding. Cortland Associates Inc. MO owned about 0.18% of Texas Pacific Land worth $36,507,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Compagnie Lombard Odier SCmA bought a new position in Texas Pacific Land in the 3rd quarter worth about $44,000. American National Bank purchased a new stake in shares of Texas Pacific Land during the second quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land during the second quarter valued at approximately $44,000. Signaturefd LLC raised its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock worth $80,000 after acquiring an additional 13 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Texas Pacific Land by 880.0% in the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 88 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Trading Up 3.0 %

TPL stock traded up $34.96 during trading on Monday, reaching $1,207.58. The stock had a trading volume of 140,054 shares, compared to its average volume of 102,810. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,240.05. The firm has a market cap of $27.75 billion, a PE ratio of 62.12 and a beta of 1.56. The stock's 50 day moving average is $949.96 and its two-hundred day moving average is $794.97.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results 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). The company had revenue of $172.33 million for 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 last year, the firm posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.39%. Texas Pacific Land's dividend payout ratio is presently 24.07%.

Analyst Ratings Changes

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