Mount Yale Investment Advisors LLC Sells 16 Shares of Texas Pacific Land Co. (NYSE:TPL)

Mount Yale Investment Advisors LLC reduced its holdings in Texas Pacific Land Co. (NYSE:TPL) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 279 shares of the financial services provider’s stock after selling 16 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Texas Pacific Land were worth $247,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the period. BOKF NA lifted its position in shares of Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 17 shares during the period. CIBC Asset Management Inc increased its position in shares of Texas Pacific Land by 2.9% during the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after buying an additional 21 shares during the period. Accordant Advisory Group Inc raised its stake in Texas Pacific Land by 1.9% in the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 26 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Texas Pacific Land by 0.7% in the third quarter. Private Advisor Group LLC now owns 3,657 shares of the financial services provider’s stock worth $3,236,000 after buying an additional 27 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,098.01 on Monday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,106.87. The firm has a 50-day moving average of $919.63 and a 200 day moving average of $775.77. The stock has a market cap of $25.24 billion, a P/E ratio of 58.37 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) 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 analysts’ expectations 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 in the previous year, the business posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. Texas Pacific Land’s payout ratio is presently 24.88%.

Analysts Set New Price Targets

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

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.