Nicholas Hoffman & Company LLC. Sells 766 Shares of Texas Pacific Land Co. (NYSE:TPL)

Nicholas Hoffman & Company LLC. lessened its position in Texas Pacific Land Co. (NYSE:TPL) by 48.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 824 shares of the financial services provider’s stock after selling 766 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Texas Pacific Land were worth $729,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its position in Texas Pacific Land by 204.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after acquiring an additional 678 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock valued at $8,709,000 after buying an additional 10,483 shares during the last quarter. Van ECK Associates Corp increased its holdings in Texas Pacific Land by 220.7% in the 1st quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after buying an additional 2,847 shares in the last quarter. Russell Investments Group Ltd. raised its position in Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after buying an additional 7,476 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Texas Pacific Land by 56.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock valued at $10,645,000 after acquiring an additional 5,255 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,108.90 on Wednesday. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,108.90. The company has a market cap of $25.48 billion, a P/E ratio of 57.04 and a beta of 1.60. The stock’s fifty day moving average price is $930.45 and its 200-day moving average price is $782.76.

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 the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million during 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 period in the previous year, the business posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.42%. Texas Pacific Land’s dividend payout ratio (DPR) is 24.07%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued 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.