Nisa Investment Advisors LLC Reduces Stock Position in Texas Pacific Land Co. (NYSE:TPL)

Nisa Investment Advisors LLC cut its holdings in Texas Pacific Land Co. (NYSE:TPL) by 19.6% during the third quarter, Holdings Channel reports. The institutional investor owned 3,011 shares of the financial services provider’s stock after selling 732 shares during the period. Nisa Investment Advisors LLC’s holdings in Texas Pacific Land were worth $2,664,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Compagnie Lombard Odier SCmA acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth about $44,000. American National Bank acquired a new stake in Texas Pacific Land during the second quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land during the 2nd quarter worth approximately $44,000. Signaturefd LLC boosted its holdings in shares of Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Texas Pacific Land by 880.0% in the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock valued at $87,000 after buying an additional 88 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 0.5 %

NYSE:TPL opened at $1,172.25 on Friday. The company has a market capitalization of $26.94 billion, a PE ratio of 60.30 and a beta of 1.60. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,189.91. The stock’s 50 day moving average price is $949.96 and its 200 day moving average price is $792.07.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The business had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $182.35 million. During the same quarter last year, the business posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.40%. Texas Pacific Land’s payout ratio is 24.07%.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note 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.