239 Shares in Texas Pacific Land Co. (NYSE:TPL) Bought by Key Client Fiduciary Advisors LLC

Key Client Fiduciary Advisors LLC bought a new position in Texas Pacific Land Co. (NYSE:TPL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 239 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Texas Pacific Land by 13.9% in the 3rd quarter. Blue Trust Inc. now owns 19,176 shares of the financial services provider’s stock worth $16,966,000 after acquiring an additional 2,333 shares during the last quarter. Net Worth Advisory Group acquired a new stake in Texas Pacific Land during the 3rd quarter worth about $462,000. Investment Advisory Group LLC acquired a new stake in Texas Pacific Land during the 3rd quarter worth about $887,000. Creative Planning grew its position in Texas Pacific Land by 5.8% during the 3rd quarter. Creative Planning now owns 6,717 shares of the financial services provider’s stock worth $5,943,000 after purchasing an additional 369 shares during the period. Finally, Sapient Capital LLC grew its position in Texas Pacific Land by 27.9% during the 3rd quarter. Sapient Capital LLC now owns 18,978 shares of the financial services provider’s stock worth $16,791,000 after purchasing an additional 4,138 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 0.7 %

Shares of NYSE:TPL traded down $7.49 during trading on Friday, reaching $1,058.53. 79,507 shares of the company’s stock traded hands, compared to its average volume of 104,226. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,077.25. The firm has a market cap of $24.33 billion, a PE ratio of 54.45 and a beta of 1.60. The company has a 50-day simple moving average of $893.34 and a 200-day simple moving average of $755.87.

Texas Pacific Land (NYSE:TPL) last posted its earnings results 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 for the quarter, compared to analyst estimates of $182.35 million. During the same quarter last year, the business earned $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.07%.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Company 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.