Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. reduced its position in Texas Pacific Land Co. (NYSE:TPL) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,445 shares of the financial services provider’s stock after selling 49 shares during the quarter. Grimes & Company Inc.’s holdings in Texas Pacific Land were worth $3,933,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its stake in Texas Pacific Land by 200.0% in 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 during the period. Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth $44,000. GAMMA Investing LLC grew its stake in shares of Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 41 shares during the period. American National Bank acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth $44,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

NYSE:TPL traded up $4.54 on Thursday, reaching $1,088.80. The stock had a trading volume of 998 shares, compared to its average volume of 103,239. The company has a market cap of $25.02 billion, a price-to-earnings ratio of 55.77 and a beta of 1.60. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,095.75. The firm’s fifty day moving average is $908.91 and its two-hundred day moving average is $767.40.

Texas Pacific Land (NYSE:TPL) last announced 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 for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $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. Investors 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 0.43%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

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.