Texas Pacific Land Co. (NYSE:TPL) Stock Position Lowered by Blair William & Co. IL

Blair William & Co. IL decreased its position in Texas Pacific Land Co. (NYSE:TPL) by 0.2% in the second quarter, HoldingsChannel reports. The firm owned 8,005 shares of the financial services provider’s stock after selling 17 shares during the period. Blair William & Co. IL’s holdings in Texas Pacific Land were worth $5,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPL. Vanguard Personalized Indexing Management LLC boosted its position in shares of Texas Pacific Land by 30.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,117 shares of the financial services provider’s stock worth $820,000 after buying an additional 260 shares during the period. Amalgamated Bank lifted its stake in Texas Pacific Land by 691.8% in the 2nd quarter. Amalgamated Bank now owns 9,668 shares of the financial services provider’s stock worth $7,099,000 after acquiring an additional 8,447 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Texas Pacific Land during the 2nd quarter worth about $532,000. Mutual of America Capital Management LLC purchased a new position in Texas Pacific Land during the 2nd quarter valued at about $7,827,000. Finally, Virtu Financial LLC acquired a new position in shares of Texas Pacific Land in the 2nd quarter valued at about $849,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

TPL opened at $936.28 on Friday. The company has a market capitalization of $21.53 billion, a PE ratio of 49.78 and a beta of 1.60. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $941.63. The business has a 50-day moving average of $826.09 and a 200-day moving average of $697.52.

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 for the quarter, missing the consensus estimate of $5.36 by ($0.38). The business had revenue of $172.33 million for 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 period in the previous year, the business posted $4.35 EPS. On average, equities research analysts expect that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is presently 24.88%.

Wall Street Analysts Forecast Growth

TPL has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

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.