Lionsbridge Wealth Management LLC Sells 16 Shares of Texas Pacific Land Co. (NYSE:TPL)

Lionsbridge Wealth Management LLC decreased its position in Texas Pacific Land Co. (NYSE:TPL) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 692 shares of the financial services provider’s stock after selling 16 shares during the quarter. Lionsbridge Wealth Management LLC’s holdings in Texas Pacific Land were worth $612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPL. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land during the 3rd quarter worth $25,000. Compagnie Lombard Odier SCmA bought a new position in shares of Texas Pacific Land in the 3rd quarter worth $44,000. American National Bank bought a new position in shares of Texas Pacific Land in the 2nd quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Pacific Land during the second quarter worth $44,000. Finally, Signaturefd LLC increased its holdings in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL opened at $1,375.16 on Friday. The company has a 50 day moving average price of $993.11 and a two-hundred day moving average price of $816.85. The company has a market capitalization of $31.60 billion, a PE ratio of 70.56 and a beta of 1.56. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,417.72.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data 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). The firm 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 65.34% and a return on equity of 39.92%. During the same quarter in the prior year, the company earned $4.35 EPS.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is 32.84%.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a 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.