Edge Capital Group LLC Has $1.23 Million Stake in Texas Pacific Land Co. (NYSE:TPL)

Edge Capital Group LLC decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 35.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,671 shares of the financial services provider’s stock after selling 921 shares during the period. Edge Capital Group LLC’s holdings in Texas Pacific Land were worth $1,227,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Texas Pacific Land by 200.0% during the 1st 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 increased its holdings in shares of Texas Pacific Land by 315.4% during the 1st 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 increased its holdings in shares of Texas Pacific Land by 200.0% during the 1st 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 acquired a new position in shares of Texas Pacific Land during the 2nd quarter valued at about $42,000. Finally, Halpern Financial Inc. increased its holdings in shares of Texas Pacific Land by 200.0% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Ratings Changes

TPL has been the subject of several recent analyst reports. BWS Financial restated a “buy” rating and set 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 research report on Tuesday, June 18th.

Texas Pacific Land Trading Up 2.3 %

TPL opened at $936.28 on Monday. 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 capitalization of $21.53 billion, a price-to-earnings ratio of 49.78 and a beta of 1.60. The business has a 50 day moving average of $826.09 and a 200-day moving average of $698.95.

Texas Pacific Land (NYSE:TPL) last posted 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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same period in the prior year, the company posted $4.35 earnings per share. Equities analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Dividend Announcement

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

About Texas Pacific Land

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.