Louisiana State Employees Retirement System Sells 100 Shares of Texas Pacific Land Co. (NYSE:TPL)

Louisiana State Employees Retirement System reduced its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,200 shares of the financial services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Texas Pacific Land were worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPL. Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land in the third quarter valued at approximately $44,000. American National Bank bought a new stake in Texas Pacific Land in the second quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land in the second quarter valued at approximately $44,000. Signaturefd LLC boosted its holdings in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 13 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Texas Pacific Land by 880.0% in the third quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 88 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,098.01 on Friday. The stock has a market capitalization of $25.23 billion, a price-to-earnings ratio of 56.48 and a beta of 1.60. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,106.87. The stock’s 50 day moving average price is $919.63 and its two-hundred day moving average price is $774.52.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results 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 for 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 quarter in the previous year, the company posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given 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 was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.07%.

Analysts Set New Price Targets

Separately, BWS Financial restated 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 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.