Janney Montgomery Scott LLC Decreases Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Janney Montgomery Scott LLC trimmed its position in Texas Pacific Land Co. (NYSE:TPLGet Rating) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,894 shares of the financial services provider’s stock after selling 110 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Texas Pacific Land were worth $5,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TPL. First Horizon Advisors Inc. bought a new stake in Texas Pacific Land in the second quarter valued at $28,000. Federated Hermes Inc. bought a new stake in shares of Texas Pacific Land during the 1st quarter valued at $68,000. Covestor Ltd boosted its holdings in shares of Texas Pacific Land by 1,500.0% during the 1st quarter. Covestor Ltd now owns 96 shares of the financial services provider’s stock valued at $130,000 after buying an additional 90 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Texas Pacific Land by 41.9% during the 2nd quarter. Lindbrook Capital LLC now owns 88 shares of the financial services provider’s stock valued at $131,000 after buying an additional 26 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Texas Pacific Land during the 1st quarter valued at $137,000. 58.95% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

TPL opened at $2,064.20 on Tuesday. The stock has a 50-day moving average price of $2,486.63 and a 200-day moving average price of $2,042.70. The firm has a market cap of $15.90 billion, a PE ratio of 37.50 and a beta of 1.97. Texas Pacific Land Co. has a 1 year low of $946.29 and a 1 year high of $2,739.00.

Texas Pacific Land (NYSE:TPLGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $16.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.38 by $2.44. The company had revenue of $191.11 million during the quarter, compared to analysts’ expectations of $175.67 million. As a group, sell-side analysts anticipate that Texas Pacific Land Co. will post 59.96 EPS for the current year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 8th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, December 7th. Texas Pacific Land’s dividend payout ratio (DPR) is 21.80%.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Texas Pacific Land in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Texas Pacific Land Company Profile

(Get Rating)

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds own 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 located in the western part of Texas.

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Institutional Ownership by Quarter for Texas Pacific Land (NYSE:TPL)

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