American Century Companies Inc. Decreases Holdings in Texas Pacific Land Co. (NYSE:TPL)

American Century Companies Inc. decreased its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 31.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,641 shares of the financial services provider’s stock after selling 11,416 shares during the period. American Century Companies Inc. owned 0.11% of Texas Pacific Land worth $18,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 30 shares during the last quarter. GAMMA Investing LLC lifted its position 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 valued at $31,000 after acquiring an additional 41 shares during the last quarter. IFS Advisors LLC lifted its position in Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 44 shares during the last quarter. American National Bank purchased a new stake in Texas Pacific Land during the second quarter valued at approximately $42,000. Finally, Halpern Financial Inc. raised its holdings in shares of Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $935.40 on Friday. The firm has a fifty day moving average price of $823.41 and a 200 day moving average price of $693.25. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $941.63. The stock has a market cap of $21.50 billion, a PE ratio of 49.73 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last issued 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). 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 for the quarter, compared to analysts’ expectations of $182.35 million. During the same period last year, the business earned $4.35 EPS. As a group, equities analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 0.50%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

Analysts Set New Price Targets

A number of research firms have issued reports on TPL. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report 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.