Sequoia Financial Advisors LLC Purchases New Position in Texas Pacific Land Co. (NYSE:TPL)

Sequoia Financial Advisors LLC purchased a new stake in Texas Pacific Land Co. (NYSE:TPL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,896 shares of the financial services provider’s stock, valued at approximately $14,949,000. Sequoia Financial Advisors LLC owned approximately 0.07% of Texas Pacific Land as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Texas Pacific Land by 74.2% in the second 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 purchasing an additional 86,975 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in Texas Pacific Land in the second quarter valued at approximately $131,014,000. Dimensional Fund Advisors LP boosted its holdings in Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after purchasing an additional 9,878 shares in the last quarter. Finally, Mad River Investors boosted its holdings in Texas Pacific Land by 199.2% in the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock valued at $57,921,000 after purchasing an additional 66,663 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of TPL stock traded up $21.18 during trading hours on Tuesday, hitting $1,095.75. The stock had a trading volume of 30,430 shares, compared to its average volume of 103,758. The firm has a market capitalization of $25.18 billion, a PE ratio of 56.26 and a beta of 1.60. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,095.75. The stock’s 50 day moving average is $898.17 and its 200 day moving average is $761.69.

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). The firm had revenue of $172.33 million during the quarter, compared to analyst estimates 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 company posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

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.