MONECO Advisors LLC Sells 30 Shares of Texas Pacific Land Co. (NYSE:TPL)

MONECO Advisors LLC reduced its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 303 shares of the financial services provider’s stock after selling 30 shares during the period. MONECO Advisors LLC’s holdings in Texas Pacific Land were worth $268,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its holdings in shares of Texas Pacific Land by 204.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 678 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Texas Pacific Land by 229.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after acquiring an additional 10,483 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Texas Pacific Land by 220.7% during the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after acquiring an additional 2,847 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Texas Pacific Land by 174.6% during the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after acquiring an additional 7,476 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Texas Pacific Land by 56.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock worth $10,645,000 after acquiring an additional 5,255 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Texas Pacific Land Stock Up 4.0 %

Texas Pacific Land stock opened at $1,153.63 on Thursday. The company has a market capitalization of $26.51 billion, a PE ratio of 59.34 and a beta of 1.60. The firm has a fifty day simple moving average of $937.02 and a two-hundred day simple moving average of $785.35. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,157.63.

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 for the quarter, missing the consensus estimate 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 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 0.41%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.07%.

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.