Texas Pacific Land Co. (NYSE:TPL) Stake Lessened by River Road Asset Management LLC

River Road Asset Management LLC lowered its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 58.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,200 shares of the financial services provider's stock after selling 4,484 shares during the quarter. River Road Asset Management LLC's holdings in Texas Pacific Land were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TPL. Vanguard Group Inc. lifted its stake in shares of Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Bank of New York Mellon Corp grew 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 buying an additional 86,975 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land in the second quarter worth $131,014,000. Dimensional Fund Advisors LP raised its stake in shares of Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock valued at $92,632,000 after acquiring an additional 9,878 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Texas Pacific Land by 1,541.2% during the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider's stock valued at $47,228,000 after acquiring an additional 60,400 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Analysts Set New Price Targets

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

Texas Pacific Land Price Performance

NYSE TPL traded up $87.20 on Wednesday, reaching $1,330.35. The company had a trading volume of 204,743 shares, compared to its average volume of 103,242. The firm has a market capitalization of $30.57 billion, a PE ratio of 63.95 and a beta of 1.56. The firm has a 50-day moving average of $964.56 and a 200-day moving average of $804.02. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,360.06.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly 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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The firm had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the previous year, the business posted $4.35 earnings per share.

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.