Texas Pacific Land Co. (NYSE:TPL) Stake Lessened by M&T Bank Corp

M&T Bank Corp cut its stake in Texas Pacific Land Co. (NYSE:TPL) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473 shares of the financial services provider’s stock after selling 24 shares during the period. M&T Bank Corp’s holdings in Texas Pacific Land were worth $805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Texas Pacific Land by 13.0% in the fourth quarter. Barclays PLC now owns 4,856 shares of the financial services provider’s stock valued at $11,385,000 after acquiring an additional 559 shares in the last quarter. Hunter Associates Investment Management LLC boosted its holdings in shares of Texas Pacific Land by 1.6% in the first quarter. Hunter Associates Investment Management LLC now owns 2,693 shares of the financial services provider’s stock valued at $4,583,000 after acquiring an additional 43 shares in the last quarter. Hosking Partners LLP boosted its holdings in shares of Texas Pacific Land by 1.4% in the fourth quarter. Hosking Partners LLP now owns 1,936 shares of the financial services provider’s stock valued at $4,538,000 after acquiring an additional 26 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Texas Pacific Land in the fourth quarter valued at approximately $33,000. Finally, Schroder Investment Management Group acquired a new stake in Texas Pacific Land during the fourth quarter valued at approximately $1,833,000. 60.40% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

TPL stock opened at $1,908.33 on Friday. The firm has a market cap of $14.65 billion, a PE ratio of 35.31 and a beta of 1.82. Texas Pacific Land Co. has a 12 month low of $1,266.21 and a 12 month high of $2,739.00. The firm has a 50 day simple moving average of $1,601.80 and a 200 day simple moving average of $1,574.11.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $13.05 EPS for the quarter, beating the consensus estimate of $11.11 by $1.94. The business had revenue of $160.61 million during the quarter, compared to the consensus estimate of $143.24 million. Texas Pacific Land had a net margin of 64.00% and a return on equity of 51.89%. As a group, sell-side analysts expect that Texas Pacific Land Co. will post 49.83 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $3.25 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $13.00 annualized dividend and a dividend yield of 0.68%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.05%.

Analyst Ratings Changes

Several analysts recently commented on TPL shares. Stifel Nicolaus increased their target price on shares of Texas Pacific Land from $1,371.00 to $1,622.00 in a research note on Friday, August 11th. StockNews.com started coverage on shares of Texas Pacific Land in a research note on Thursday, August 17th. They set a “hold” rating for the company.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages surface acres of land. This segment also holds own 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 located in the western part of Texas.