Texas Pacific Land Co. (NYSE:TPL) is Fielder Capital Group LLC’s 6th Largest Position

Fielder Capital Group LLC lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,881 shares of the financial services provider’s stock after selling 67 shares during the period. Texas Pacific Land comprises about 3.6% of Fielder Capital Group LLC’s portfolio, making the stock its 6th largest holding. Fielder Capital Group LLC owned 0.06% of Texas Pacific Land worth $9,458,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Stegent Equity Advisors Inc. increased its stake in Texas Pacific Land by 3.6% during the 2nd quarter. Stegent Equity Advisors Inc. now owns 2,802 shares of the financial services provider’s stock worth $2,057,000 after buying an additional 98 shares in the last quarter. nVerses Capital LLC purchased a new stake in Texas Pacific Land during the 2nd quarter worth approximately $220,000. Farther Finance Advisors LLC increased its stake in Texas Pacific Land by 9.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 323 shares of the financial services provider’s stock worth $234,000 after buying an additional 29 shares in the last quarter. AFG Fiduciary Services Limited Partnership acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $242,000. Finally, Confluence Wealth Services Inc. boosted its holdings in shares of Texas Pacific Land by 17.2% during the 2nd quarter. Confluence Wealth Services Inc. now owns 1,494 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 219 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on TPL shares. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. BWS Financial restated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Price Performance

TPL traded down $1.88 during trading hours on Friday, reaching $868.89. The company’s stock had a trading volume of 134,775 shares, compared to its average volume of 92,122. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $881.12. The stock has a market cap of $19.97 billion, a PE ratio of 46.19 and a beta of 1.63. The business’s 50-day moving average is $801.66 and its 200-day moving average is $663.70.

Texas Pacific Land (NYSE:TPL) last released 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 business had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the prior year, the company posted $4.35 earnings per share. Analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s dividend 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.