Litman Gregory Wealth Management LLC Has $1.74 Million Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Litman Gregory Wealth Management LLC cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 26.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,970 shares of the financial services provider’s stock after selling 714 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Texas Pacific Land were worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission.

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

Texas Pacific Land Stock Down 0.1 %

Shares of TPL stock traded down $0.81 during trading on Wednesday, reaching $1,090.92. The company’s stock had a trading volume of 9,117 shares, compared to its average volume of 103,493. The business has a fifty day moving average price of $903.61 and a 200-day moving average price of $765.17. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 56.16 and a beta of 1.60. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,095.75.

Texas Pacific Land (NYSE:TPL) last announced 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). 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 in the prior year, the firm earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $1.17 dividend. 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 presently 24.07%.

Analyst Ratings Changes

Separately, BWS Financial reiterated a “buy” rating and issued 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.