Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 18.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,200 shares of the financial services provider’s stock after selling 5,200 shares during the period. Renaissance Technologies LLC owned 0.10% of Texas Pacific Land worth $17,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Texas Pacific Land by 200.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC increased its stake in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares during the period. IFS Advisors LLC raised its position in Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after buying an additional 44 shares during the last quarter. American National Bank acquired a new stake in shares of Texas Pacific Land in the 2nd quarter worth $42,000. Finally, Halpern Financial Inc. boosted 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 valued at $44,000 after acquiring an additional 50 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TPL shares. BWS Financial restated a “buy” rating and issued a $917.00 price objective 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 Trading Up 2.3 %

Shares of TPL opened at $936.28 on Friday. The firm’s 50-day moving average is $826.09 and its two-hundred day moving average is $697.52. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $941.63. The firm has a market capitalization of $21.53 billion, a P/E ratio of 49.78 and a beta of 1.60.

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 firm had revenue of $172.33 million during 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 period in the previous year, the business earned $4.35 earnings per share. Analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current 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. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.50%. Texas Pacific Land’s payout ratio is 24.88%.

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.