PFG Investments LLC Has $294,000 Holdings in Texas Pacific Land Co. (NYSE:TPL)

PFG Investments LLC lessened its stake in Texas Pacific Land Co. (NYSE:TPL) by 10.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400 shares of the financial services provider’s stock after selling 47 shares during the quarter. PFG Investments LLC’s holdings in Texas Pacific Land were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 valued at $1,099,867,000 after buying an additional 1,267,123 shares during the period. Bank of New York Mellon Corp boosted its holdings in Texas Pacific Land by 74.2% during 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 purchasing an additional 86,975 shares during the last quarter. Pacific Heights Asset Management LLC boosted its holdings 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 worth $95,454,000 after purchasing an additional 110,000 shares during the last quarter. Mad River Investors boosted its holdings 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 worth $57,921,000 after purchasing an additional 66,663 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its holdings 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 worth $44,625,000 after purchasing an additional 43,726 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Ratings Changes

TPL has been the subject of a number of recent analyst reports. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. BWS Financial reiterated 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 Price Performance

Shares of TPL stock opened at $807.23 on Friday. The stock has a market cap of $18.55 billion, a P/E ratio of 42.91 and a beta of 1.60. The company has a fifty day moving average price of $814.43 and a two-hundred day moving average price of $683.39. 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 issued its quarterly earnings data 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 company had revenue of $172.33 million during 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 in the previous year, the company earned $4.35 earnings per share. As a group, equities research analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.17 dividend. 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 payout ratio 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.