Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in Texas Pacific Land Co. (NYSE:TPL) by 33.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,800 shares of the financial services provider’s stock after selling 3,463 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Texas Pacific Land were worth $4,993,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BOKF NA grew its holdings in shares of Texas Pacific Land by 1.1% in the second quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock valued at $1,154,000 after purchasing an additional 17 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Texas Pacific Land by 2.9% in the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 21 shares in the last quarter. Accordant Advisory Group Inc grew its holdings in shares of Texas Pacific Land by 1.9% in the second quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 26 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Texas Pacific Land by 9.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 323 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 29 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in 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 worth $26,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Trading Up 1.1 %

Shares of Texas Pacific Land stock opened at $981.37 on Friday. The company has a fifty day simple moving average of $848.83 and a 200-day simple moving average of $724.04. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $990.84. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 52.17 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) 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 company had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the previous year, the company posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. 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 payout ratio is currently 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.