Northwestern Mutual Wealth Management Co. Reduces Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Northwestern Mutual Wealth Management Co. cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 61.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190 shares of the financial services provider’s stock after selling 299 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Texas Pacific Land were worth $140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its holdings in Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 30 shares in the last quarter. GAMMA Investing LLC grew its stake in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 41 shares in the last quarter. IFS Advisors LLC increased its holdings in Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 44 shares during the period. American National Bank purchased a new stake in Texas Pacific Land in the 2nd quarter worth approximately $42,000. Finally, Halpern Financial Inc. boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TPL shares. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $1,002.41 on Friday. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,006.00. The firm’s fifty day moving average price is $861.30 and its 200-day moving average price is $735.75. The stock has a market cap of $23.04 billion, a P/E ratio of 53.29 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm 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 period last year, the firm earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is currently 24.88%.

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.