Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1.3% in the third quarter, HoldingsChannel.com reports. The firm owned 30,138 shares of the financial services provider’s stock after selling 409 shares during the period. Raymond James & Associates’ holdings in Texas Pacific Land were worth $26,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. lifted its position in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 41 shares during the last quarter. American National Bank bought a new position in shares of Texas Pacific Land during the second quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Pacific Land during the second quarter valued at approximately $44,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $44,000. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Stock Up 0.5 %

Texas Pacific Land stock opened at $1,089.97 on Friday. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,095.75. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 56.07 and a beta of 1.60. The firm has a 50-day moving average price of $914.13 and a two-hundred day moving average price of $769.64.

Texas Pacific Land (NYSE:TPL) last issued 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). The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period last year, the company earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis 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 is currently 24.07%.

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.