Mount Yale Investment Advisors LLC Trims Stake in Texas Pacific Land Co. (NYSE:TPL)

Mount Yale Investment Advisors LLC lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 15.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 295 shares of the financial services provider’s stock after selling 53 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Texas Pacific Land were worth $217,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. ProShare Advisors LLC purchased a new stake in shares of Texas Pacific Land in the 2nd quarter valued at about $645,000. Profund Advisors LLC purchased a new stake in Texas Pacific Land in the second quarter valued at approximately $383,000. Thrivent Financial for Lutherans purchased a new position in Texas Pacific Land in the 2nd quarter worth approximately $3,303,000. Sei Investments Co. increased its holdings in shares of Texas Pacific Land by 14.2% in the 2nd quarter. Sei Investments Co. now owns 901 shares of the financial services provider’s stock worth $662,000 after buying an additional 112 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Texas Pacific Land by 533.1% during the 2nd quarter. Pacer Advisors Inc. now owns 5,090 shares of the financial services provider’s stock valued at $3,737,000 after buying an additional 4,286 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Stock Performance

TPL stock opened at $941.33 on Wednesday. The firm has a market cap of $21.63 billion, a P/E ratio of 50.04 and a beta of 1.60. The firm’s fifty day moving average is $831.03 and its 200 day moving average is $705.18. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $959.50.

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 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 company had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $182.35 million. During the same quarter in the prior year, the firm posted $4.35 EPS. As a group, analysts forecast that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

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

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.