Wealth Enhancement Advisory Services LLC Reduces Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Wealth Enhancement Advisory Services LLC reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 18.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,871 shares of the financial services provider’s stock after selling 2,626 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Texas Pacific Land worth $10,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Trueblood Wealth Management LLC purchased a new stake in Texas Pacific Land in the 3rd quarter worth about $223,000. Mediolanum International Funds Ltd boosted its position in Texas Pacific Land by 249.1% during the third quarter. Mediolanum International Funds Ltd now owns 4,531 shares of the financial services provider’s stock worth $4,013,000 after purchasing an additional 3,233 shares during the period. Heritage Financial Services LLC purchased a new position in shares of Texas Pacific Land in the third quarter worth about $218,000. Spirit of America Management Corp NY raised its position in shares of Texas Pacific Land by 11.5% in the third quarter. Spirit of America Management Corp NY now owns 1,505 shares of the financial services provider’s stock valued at $1,332,000 after purchasing an additional 155 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Texas Pacific Land during the 3rd quarter valued at approximately $331,000. 59.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Stock Up 1.7 %

Shares of NYSE TPL opened at $1,108.90 on Wednesday. The company has a market cap of $25.48 billion, a P/E ratio of 57.04 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,108.90. The business has a 50-day simple moving average of $930.45 and a two-hundred day simple moving average of $782.76.

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). 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 business posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.42%. Texas Pacific Land’s payout ratio is currently 24.07%.

Texas Pacific Land Company 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.