Vest Financial LLC Sells 17 Shares of Texas Pacific Land Co. (NYSE:TPL)

Vest Financial LLC trimmed its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470 shares of the financial services provider’s stock after selling 17 shares during the period. Vest Financial LLC’s holdings in Texas Pacific Land were worth $1,079,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of Texas Pacific Land by 200.0% in the first 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 in the last quarter. GAMMA Investing LLC increased its position in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 41 shares in the last quarter. American National Bank bought a new position in shares of Texas Pacific Land in the second quarter worth about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Pacific Land in the second quarter worth about $44,000. Finally, IFS Advisors LLC lifted its position in shares of Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.7 %

Shares of NYSE TPL opened at $794.69 on Friday. The firm has a market capitalization of $18.26 billion, a PE ratio of 42.25 and a beta of 1.60. The firm’s 50-day moving average is $813.23 and its 200-day moving average is $681.40. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $881.12.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). The business had revenue of $172.33 million during 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 period in the previous year, the business posted $4.35 earnings per share. As a group, equities research analysts anticipate that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.59%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TPL shares. BWS Financial reissued a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

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.