Creekmur Asset Management LLC Trims Position in Texas Pacific Land Co. (NYSE:TPL)

Creekmur Asset Management LLC cut its holdings in shares of Texas Pacific Land Co. (NYSE:TPL) by 55.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 600 shares of the financial services provider’s stock after selling 739 shares during the quarter. Creekmur Asset Management LLC’s holdings in Texas Pacific Land were worth $531,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land during the 3rd quarter worth approximately $44,000. American National Bank purchased a new position in Texas Pacific Land during the 2nd quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land during the 2nd quarter worth approximately $44,000. Signaturefd LLC raised its position 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 buying an additional 13 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Texas Pacific Land by 880.0% during the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock worth $87,000 after buying an additional 88 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued 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 Price Performance

NYSE:TPL opened at $1,108.90 on Wednesday. The firm has a market cap of $25.48 billion, a price-to-earnings ratio of 57.04 and a beta of 1.60. The company has a 50 day moving average price of $930.45 and a 200-day moving average price of $782.76. Texas Pacific Land Co. has a 1-year low of $467.62 and a 1-year high of $1,108.90.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently declared 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 0.42%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is presently 24.07%.

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.