Texas Pacific Land Co. (NYSE:TPL) Holdings Lowered by Fernwood Investment Management LLC

Fernwood Investment Management LLC reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,410 shares of the financial services provider’s stock after selling 219 shares during the quarter. Texas Pacific Land comprises approximately 7.0% of Fernwood Investment Management LLC’s portfolio, making the stock its largest holding. Fernwood Investment Management LLC owned about 0.11% of Texas Pacific Land worth $21,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in Texas Pacific Land by 11.0% in the third quarter. Van ECK Associates Corp now owns 4,669 shares of the financial services provider’s stock valued at $4,131,000 after buying an additional 463 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Texas Pacific Land by 4.2% in the 3rd quarter. Confluence Wealth Services Inc. now owns 1,557 shares of the financial services provider’s stock valued at $1,377,000 after acquiring an additional 63 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Texas Pacific Land in the 3rd quarter valued at $12,928,000. Chicago Partners Investment Group LLC boosted its stake in Texas Pacific Land by 8.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 444 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 35 shares during the period. Finally, Sensible Financial Planning & Management LLC. purchased a new position in Texas Pacific Land during the 3rd quarter worth $953,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.6 %

Shares of Texas Pacific Land stock traded up $6.62 during trading hours on Friday, hitting $1,172.62. 112,345 shares of the company were exchanged, compared to its average volume of 81,478. The business has a 50-day moving average of $949.96 and a 200-day moving average of $792.07. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,189.91. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of 60.32 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $182.35 million. During the same quarter last year, the business posted $4.35 EPS.

Texas Pacific Land Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.