Texas Pacific Land Corporation $TPL Stock Holdings Lessened by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,535 shares of the financial services provider’s stock after selling 1,881 shares during the period. Jefferies Financial Group Inc.’s holdings in Texas Pacific Land were worth $7,960,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock valued at $3,267,588,000 after acquiring an additional 115,743 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Texas Pacific Land by 1,104.4% in the 2nd quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock worth $101,543,000 after acquiring an additional 88,142 shares during the period. Nuveen LLC bought a new position in shares of Texas Pacific Land in the first quarter valued at approximately $68,518,000. CW Advisors LLC acquired a new position in shares of Texas Pacific Land during the first quarter valued at approximately $31,919,000. Finally, Geode Capital Management LLC raised its stake in shares of Texas Pacific Land by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock worth $648,866,000 after buying an additional 22,796 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 2.0%

TPL opened at $878.59 on Tuesday. The stock’s 50 day moving average price is $935.90 and its two-hundred day moving average price is $1,007.05. The firm has a market capitalization of $20.19 billion, a P/E ratio of 43.80 and a beta of 1.12. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.77 by ($0.50). The firm had revenue of $203.10 million for the quarter, compared to analyst estimates of $175.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land’s payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.