NBC Securities Inc. Sells 37 Shares of Texas Pacific Land Co. (NYSE:TPL)

NBC Securities Inc. reduced its stake in Texas Pacific Land Co. (NYSE:TPL) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 746 shares of the financial services provider’s stock after selling 37 shares during the period. NBC Securities Inc.’s holdings in Texas Pacific Land were worth $660,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its holdings in Texas Pacific Land by 200.0% in the first 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 period. Compagnie Lombard Odier SCmA acquired a new stake in Texas Pacific Land during the 3rd quarter worth $44,000. GAMMA Investing LLC lifted its holdings in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 41 shares in the last quarter. American National Bank acquired a new position in Texas Pacific Land in the second quarter valued at about $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land in the second quarter worth about $44,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 1.8 %

Shares of NYSE:TPL opened at $1,066.82 on Friday. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 54.88 and a beta of 1.60. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,077.25. The company’s fifty day simple moving average is $888.62 and its 200 day simple moving average is $752.49.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results 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). The firm had revenue of $172.33 million during the quarter, compared to the consensus estimate 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 earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.44%. Texas Pacific Land’s dividend payout ratio is currently 24.07%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

About Texas Pacific Land

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.