Accordant Advisory Group Inc Decreases Stake in Texas Pacific Land Co. (NYSE:TPL)

Accordant Advisory Group Inc lessened its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 89.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150 shares of the financial services provider’s stock after selling 1,232 shares during the quarter. Accordant Advisory Group Inc’s holdings in Texas Pacific Land were worth $133,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its position in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 13 shares during the last quarter. BOKF NA increased its holdings in shares of Texas Pacific Land by 1.1% in the 2nd quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 17 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Texas Pacific Land by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after buying an additional 21 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Texas Pacific Land by 9.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 323 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 29 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew 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. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Trading Up 1.6 %

Shares of TPL opened at $1,091.73 on Wednesday. The company’s fifty day simple moving average is $898.17 and its 200-day simple moving average is $761.69. The company has a market cap of $25.09 billion, a P/E ratio of 56.16 and a beta of 1.60. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,095.75.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) 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 firm earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. Texas Pacific Land’s dividend payout ratio (DPR) is 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.