Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. decreased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,590 shares of the financial services provider’s stock after selling 180 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Texas Pacific Land were worth $1,167,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock worth $1,099,867,000 after acquiring an additional 1,267,123 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after acquiring an additional 86,975 shares in the last quarter. Pacific Heights Asset Management LLC raised its stake in Texas Pacific Land by 200.0% during the first quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider’s stock valued at $95,454,000 after buying an additional 110,000 shares in the last quarter. Mad River Investors raised its stake in Texas Pacific Land by 199.2% during the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock valued at $57,921,000 after buying an additional 66,663 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its stake in Texas Pacific Land by 130.9% during the first quarter. Hodges Capital Management Inc. now owns 77,137 shares of the financial services provider’s stock valued at $44,625,000 after buying an additional 43,726 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

TPL has been the topic of several research reports. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. 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 0.4 %

Shares of NYSE:TPL traded up $3.24 during trading on Thursday, hitting $807.00. 9,389 shares of the company traded hands, compared to its average volume of 104,478. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 42.73 and a beta of 1.60. The business’s fifty day moving average is $806.60 and its 200-day moving average is $670.72. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $881.12.

Texas Pacific Land (NYSE:TPL) last posted 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). The company had revenue of $172.33 million for the quarter, compared to the consensus estimate 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 period last year, the company posted $4.35 earnings per share. On average, analysts forecast that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

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.