Sensible Financial Planning & Management LLC. Takes Position in Texas Pacific Land Co. (NYSE:TPL)

Sensible Financial Planning & Management LLC. acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,077 shares of the financial services provider’s stock, valued at approximately $953,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American National Bank bought a new position in Texas Pacific Land in the second quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land during the second quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land during the 3rd quarter valued at $44,000. Signaturefd LLC raised its stake in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 13 shares during the period. Finally, UniSuper Management Pty Ltd lifted its holdings in Texas Pacific Land by 200.0% during the first quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

Shares of NYSE TPL traded up $5.04 during mid-day trading on Friday, reaching $1,171.04. The company’s stock had a trading volume of 7,360 shares, compared to its average volume of 102,125. The stock has a fifty day moving average of $943.73 and a two-hundred day moving average of $787.98. The firm has a market capitalization of $26.91 billion, a PE ratio of 59.92 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,175.00.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) 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 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 quarter in the previous year, the business earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company 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 was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.40%. Texas Pacific Land’s dividend payout ratio (DPR) is 24.07%.

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.