Mutual Advisors LLC decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL – Get Rating) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 383 shares of the financial services provider’s stock after selling 124 shares during the quarter. Mutual Advisors LLC’s holdings in Texas Pacific Land were worth $681,000 as of its most recent SEC filing.
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A number of other hedge funds also recently bought and sold shares of TPL. Wipfli Financial Advisors LLC purchased a new stake in Texas Pacific Land during the third quarter valued at $27,000. First Horizon Advisors Inc. purchased a new stake in shares of Texas Pacific Land in the second quarter valued at $28,000. Federated Hermes Inc. purchased a new stake in shares of Texas Pacific Land in the first quarter valued at $68,000. Covestor Ltd raised its stake in shares of Texas Pacific Land by 1,500.0% in the first quarter. Covestor Ltd now owns 96 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 90 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Texas Pacific Land by 41.9% in the second quarter. Lindbrook Capital LLC now owns 88 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 58.95% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on shares of Texas Pacific Land in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.
Texas Pacific Land Trading Up 0.4 %
Shares of TPL opened at $2,070.48 on Wednesday. Texas Pacific Land Co. has a twelve month low of $986.01 and a twelve month high of $2,739.00. The company has a market cap of $15.94 billion, a P/E ratio of 37.62 and a beta of 1.97. The company’s fifty day simple moving average is $2,378.82 and its 200-day simple moving average is $2,086.61.
Texas Pacific Land (NYSE:TPL – Get Rating) last announced its earnings results on Wednesday, November 2nd. The financial services provider reported $16.82 earnings per share for the quarter, beating the consensus estimate of $14.38 by $2.44. The firm had revenue of $191.11 million during the quarter, compared to analysts’ expectations of $175.67 million. Analysts predict that Texas Pacific Land Co. will post 59.96 earnings per share for the current fiscal year.
Texas Pacific Land Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 8th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, December 7th. Texas Pacific Land’s dividend payout ratio is presently 21.80%.
Texas Pacific Land Company Profile
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company’s Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds own 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 located in the western part of Texas.
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