Texas Pacific Land Co. (NYSE:TPL) Stake Reduced by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 4.3% in the second quarter, Holdings Channel reports. The firm owned 78,653 shares of the financial services provider’s stock after selling 3,541 shares during the quarter. Texas Pacific Land accounts for 3.1% of Moors & Cabot Inc.’s holdings, making the stock its 4th biggest holding. Moors & Cabot Inc.’s holdings in Texas Pacific Land were worth $57,753,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock worth $1,099,867,000 after acquiring an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 worth $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Pacific Heights Asset Management LLC lifted its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider’s stock valued at $95,454,000 after purchasing an additional 110,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Texas Pacific Land by 8.5% during 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 buying an additional 9,878 shares during the last quarter. Finally, Mad River Investors increased its holdings in Texas Pacific Land by 199.2% in the 1st quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after buying an additional 66,663 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPL has been the topic of several research 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 downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Performance

TPL stock opened at $838.61 on Tuesday. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 44.58 and a beta of 1.60. The business’s 50-day moving average is $816.20 and its two-hundred day moving average is $687.88. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $881.12.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The business had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $182.35 million. During the same period in the previous year, the business posted $4.35 EPS. Equities analysts predict that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $1.17 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.56%. Texas Pacific Land’s dividend payout ratio (DPR) is 24.88%.

Texas Pacific Land 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.