Mission Wealth Management LP trimmed its holdings in shares of Texas Pacific Land Trust (NYSE:TPL) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,327 shares of the financial services provider’s stock after selling 50 shares during the period. Mission Wealth Management LP owned 0.06% of Texas Pacific Land Trust worth $1,954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. FMR LLC increased its stake in Texas Pacific Land Trust by 62.8% in the second quarter. FMR LLC now owns 11,065 shares of the financial services provider’s stock valued at $6,580,000 after purchasing an additional 4,269 shares in the last quarter. Legal & General Group Plc increased its stake in Texas Pacific Land Trust by 20.4% in the first quarter. Legal & General Group Plc now owns 266 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 45 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Texas Pacific Land Trust in the second quarter valued at approximately $477,000. Blair William & Co. IL bought a new stake in Texas Pacific Land Trust in the second quarter valued at approximately $1,172,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Texas Pacific Land Trust in the second quarter valued at approximately $202,000. 47.22% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Kinetics Asset Managem Horizon acquired 172 shares of the stock in a transaction dated Monday, July 20th. The stock was bought at an average price of $575.01 per share, with a total value of $98,901.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 580 shares of company stock valued at $309,280 in the last three months. 0.92% of the stock is owned by insiders.

Separately, Stifel Nicolaus lowered their target price on shares of Texas Pacific Land Trust from $751.00 to $679.00 and set a “buy” rating for the company in a research note on Thursday, August 6th.

Shares of TPL stock opened at $469.42 on Friday. The firm has a fifty day moving average of $478.83 and a 200-day moving average of $535.99. The company has a quick ratio of 20.03, a current ratio of 20.03 and a debt-to-equity ratio of 0.01. Texas Pacific Land Trust has a 12-month low of $295.05 and a 12-month high of $838.50. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 16.83 and a beta of 1.82.

Texas Pacific Land Trust (NYSE:TPL) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $3.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.24 by ($2.68). Texas Pacific Land Trust had a return on equity of 46.18% and a net margin of 59.59%. The company had revenue of $54.57 million for the quarter, compared to the consensus estimate of $83.00 million. On average, equities analysts expect that Texas Pacific Land Trust will post 19.27 EPS for the current year.

About Texas Pacific Land Trust

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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

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