Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Trimmed by True North Advisors LLC

True North Advisors LLC lessened its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 17.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,399 shares of the financial services provider’s stock after selling 919 shares during the quarter. Texas Pacific Land comprises approximately 1.0% of True North Advisors LLC’s holdings, making the stock its 15th largest position. True North Advisors LLC’s holdings in Texas Pacific Land were worth $3,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after buying an additional 1,267,123 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 2nd quarter worth approximately $131,014,000. Bank of New York Mellon Corp boosted its holdings in shares of Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after acquiring an additional 86,975 shares in the last quarter. Mad River Investors increased its stake in shares of Texas Pacific Land by 199.2% during the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock valued at $57,921,000 after acquiring an additional 66,663 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Texas Pacific Land by 1,541.2% during the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after purchasing an additional 60,400 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $971.68 on Wednesday. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of 51.66 and a beta of 1.60. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $995.71. The company has a 50 day moving average price of $855.03 and a 200 day moving average price of $732.16.

Texas Pacific Land (NYSE:TPL) last released 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 company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period in the prior year, the business earned $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

Analyst Ratings Changes

TPL has been the topic of several research analyst reports. BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com lowered 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.