Sequoia Financial Advisors LLC Invests $14.95 Million in Texas Pacific Land Co. (NYSE:TPL)

Sequoia Financial Advisors LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,896 shares of the financial services provider’s stock, valued at approximately $14,949,000.

Several other large investors have also modified their holdings of TPL. Benjamin F. Edwards & Company Inc. raised its position in 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 worth $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 41 shares in the last quarter. American National Bank acquired a new stake in shares of Texas Pacific Land in the second quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Texas Pacific Land during the second quarter worth about $44,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land during the third quarter worth about $44,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 2.0 %

Shares of TPL stock traded up $21.18 during mid-day trading on Tuesday, reaching $1,095.75. The stock had a trading volume of 30,430 shares, compared to its average volume of 103,758. The company has a market cap of $25.18 billion, a P/E ratio of 56.26 and a beta of 1.60. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,095.75. The business has a 50-day simple moving average of $898.17 and a 200 day simple moving average of $761.69.

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). 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 analysts’ expectations of $182.35 million. During the same quarter last year, the business posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.43%. Texas Pacific Land’s dividend payout ratio (DPR) is 24.07%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated 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 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.