Texas Pacific Land Co. (NYSE:TPL) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,031 shares of the financial services provider’s stock after selling 275 shares during the period. TIAA Trust National Association owned 0.05% of Texas Pacific Land worth $8,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares during the period. IFS Advisors LLC boosted its position in Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 44 shares during the last quarter. American National Bank purchased a new stake in Texas Pacific Land in the 2nd quarter worth approximately $42,000. Finally, Halpern Financial Inc. raised its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TPL shares. BWS Financial restated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $815.04 on Wednesday. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $881.12. The company has a 50 day moving average price of $805.38 and a 200 day moving average price of $669.79. The firm has a market capitalization of $18.73 billion, a price-to-earnings ratio of 43.33 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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 firm had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $182.35 million. During the same quarter last year, the business earned $4.35 earnings per share. As a group, equities analysts forecast that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.57%. Texas Pacific Land’s dividend payout ratio (DPR) is 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.