Ensign Peak Advisors Inc Sells 820 Shares of Texas Pacific Land Co. (NYSE:TPL)

Ensign Peak Advisors Inc decreased its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,520 shares of the financial services provider’s stock after selling 820 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Texas Pacific Land were worth $6,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its position in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Texas Pacific Land by 315.4% in the 1st 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. American National Bank acquired a new stake in Texas Pacific Land in the 2nd quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land during the second quarter worth approximately $44,000. Finally, IFS Advisors LLC grew its holdings in Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 1.4 %

Shares of TPL stock opened at $927.73 on Thursday. The firm has a market capitalization of $21.33 billion, a P/E ratio of 49.32 and a beta of 1.60. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $959.50. The firm’s fifty day simple moving average is $833.22 and its 200 day simple moving average is $706.74.

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). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the prior year, the company posted $4.35 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is presently 24.88%.

Analyst Ratings Changes

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

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.