Tobam decreased its position in Texas Pacific Land Co. (NYSE:TPL – Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,263 shares of the financial services provider’s stock after selling 537 shares during the period. Tobam’s holdings in Texas Pacific Land were worth $3,772,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPL. UMB Bank n.a. raised its holdings in Texas Pacific Land by 880.0% in the third quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 88 shares during the period. Wedmont Private Capital acquired a new stake in shares of Texas Pacific Land in the third quarter valued at about $184,000. CWM LLC increased its holdings in Texas Pacific Land by 63.3% during the third quarter. CWM LLC now owns 627 shares of the financial services provider’s stock worth $555,000 after buying an additional 243 shares during the last quarter. Howard Financial Services LTD. acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth about $1,194,000. Finally, Schoolcraft Capital LLC acquired a new position in Texas Pacific Land during the third quarter worth approximately $226,000. 59.94% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. BWS Financial reissued a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.
Texas Pacific Land Trading Up 1.9 %
NYSE:TPL traded up $18.69 during mid-day trading on Thursday, hitting $998.84. 31,852 shares of the company’s stock were exchanged, compared to its average volume of 103,971. The firm has a market capitalization of $22.95 billion, a P/E ratio of 52.62 and a beta of 1.60. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $999.50. The company has a 50 day simple moving average of $857.71 and a 200-day simple moving average of $733.89.
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 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 business had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same period in the prior year, the firm earned $4.35 earnings per share.
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 $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is currently 24.88%.
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.
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