Xponance Inc. Sells 45 Shares of Texas Pacific Land Co. (NYSE:TPL)

Xponance Inc. lessened its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,399 shares of the financial services provider’s stock after selling 45 shares during the period. Xponance Inc.’s holdings in Texas Pacific Land were worth $4,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TPL. Benjamin F. Edwards & Company Inc. raised its position in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC raised its position in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 41 shares during the last quarter. American National Bank bought a new position in Texas Pacific Land in the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Pacific Land in the 2nd quarter valued at $44,000. Finally, IFS Advisors LLC raised its position in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TPL. BWS Financial reiterated a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research 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

NYSE TPL opened at $941.33 on Wednesday. The stock has a fifty day moving average of $831.03 and a 200-day moving average of $705.18. The stock has a market capitalization of $21.63 billion, a P/E ratio of 50.04 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $959.50.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million during the quarter, compared to analyst estimates 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 period last year, the business posted $4.35 earnings per share. Equities research analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) 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.