Hsbc Holdings PLC Trims Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Hsbc Holdings PLC lowered its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,642 shares of the financial services provider’s stock after selling 2,103 shares during the quarter. Hsbc Holdings PLC owned 0.13% of Texas Pacific Land worth $21,755,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TPL. Vanguard Group Inc. lifted its position in shares of Texas Pacific Land by 199.8% during the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock worth $1,099,867,000 after purchasing an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Texas Pacific Land by 74.2% during the 2nd 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 buying an additional 86,975 shares in the last quarter. Pacific Heights Asset Management LLC boosted its position in Texas Pacific Land by 200.0% in the 1st quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider’s stock valued at $95,454,000 after buying an additional 110,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after acquiring an additional 9,878 shares in the last quarter. Finally, Mad River Investors increased its position 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 worth $57,921,000 after acquiring an additional 66,663 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TPL shares. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Stock Performance

NYSE TPL opened at $936.28 on Friday. The company has a market cap of $21.53 billion, a PE ratio of 49.78 and a beta of 1.60. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $941.63. The firm’s 50 day moving average price is $826.09 and its 200-day moving average price is $697.52.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). The company 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 quarter in the prior year, the business posted $4.35 earnings per share. On average, analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued 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 0.50%. Texas Pacific Land’s dividend payout ratio is presently 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.