Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC lessened its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 536 shares of the financial services provider’s stock after selling 52 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Texas Pacific Land were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Texas Pacific Land by 199.8% during the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Texas Pacific Land by 74.2% during the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after purchasing an additional 86,975 shares during the period. Pacific Heights Asset Management LLC lifted its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider’s stock valued at $95,454,000 after purchasing an additional 110,000 shares during the last quarter. Mad River Investors boosted its holdings in shares of Texas Pacific Land by 199.2% in the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after buying an additional 66,663 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in Texas Pacific Land by 130.9% in the 1st quarter. Hodges Capital Management Inc. now owns 77,137 shares of the financial services provider’s stock worth $44,625,000 after purchasing an additional 43,726 shares during the period. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $868.89 on Friday. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 46.19 and a beta of 1.63. The business has a 50 day simple moving average of $801.66 and a 200 day simple moving average of $663.70. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $881.12.

Texas Pacific Land (NYSE:TPL) last issued 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 return on equity of 41.29% and a net margin of 66.71%. The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the prior year, the company posted $4.35 earnings per share. On average, analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is 24.88%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TPL shares. BWS Financial reaffirmed a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

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.