Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 32.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 363 shares of the financial services provider’s stock after selling 173 shares during the period. Moloney Securities Asset Management LLC’s holdings in Texas Pacific Land were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American National Bank acquired a new position in Texas Pacific Land in the 2nd quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Texas Pacific Land in the 2nd quarter worth approximately $44,000. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land in the 3rd quarter worth approximately $44,000. Signaturefd LLC increased its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 13 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed 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 Price Performance

Shares of NYSE TPL opened at $1,330.35 on Thursday. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 68.43 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,360.06. The firm’s 50 day simple moving average is $964.56 and its 200-day simple moving average is $804.02.

Texas Pacific Land (NYSE:TPL) last issued 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). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The firm had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the previous year, the business earned $4.35 EPS.

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.