Indie Asset Partners LLC Lowers Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Indie Asset Partners LLC lowered its stake in Texas Pacific Land Co. (NYSE:TPL) by 30.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 500 shares of the financial services provider’s stock after selling 215 shares during the quarter. Indie Asset Partners LLC’s holdings in Texas Pacific Land were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in shares of Texas Pacific Land by 522.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 622 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Texas Pacific Land by 200.0% in the 1st quarter. State of Michigan Retirement System now owns 1,200 shares of the financial services provider’s stock worth $694,000 after purchasing an additional 800 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Texas Pacific Land by 198.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,600 shares of the financial services provider’s stock worth $24,645,000 after purchasing an additional 28,329 shares during the last quarter. Norden Group LLC bought a new position in shares of Texas Pacific Land during the first quarter valued at $1,063,000. Finally, Maryland State Retirement & Pension System boosted its position in shares of Texas Pacific Land by 200.0% during the first quarter. Maryland State Retirement & Pension System now owns 1,440 shares of the financial services provider’s stock valued at $842,000 after buying an additional 960 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.6 %

NYSE:TPL opened at $1,172.62 on Friday. The company has a 50 day simple moving average of $949.96 and a two-hundred day simple moving average of $792.07. The company has a market cap of $26.95 billion, a PE ratio of 60.32 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,189.91.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). The firm had revenue of $172.33 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.40%. Texas Pacific Land’s dividend payout ratio (DPR) is 24.07%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research 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.