Vanguard Group Inc. trimmed its position in Texas Pacific Land Trust (NYSE:TPL) by 18.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,358 shares of the financial services provider’s stock after selling 3,093 shares during the quarter. Vanguard Group Inc. owned about 0.17% of Texas Pacific Land Trust worth $3,924,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bahl & Gaynor Inc. increased its holdings in Texas Pacific Land Trust by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 4,500 shares of the financial services provider’s stock worth $1,335,000 after acquiring an additional 150 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in Texas Pacific Land Trust in the 2nd quarter worth approximately $291,000. Filament LLC purchased a new stake in Texas Pacific Land Trust in the 2nd quarter worth approximately $352,000. Kennedy Capital Management Inc. purchased a new stake in Texas Pacific Land Trust in the 2nd quarter worth approximately $2,936,000. Finally, Cim LLC purchased a new stake in Texas Pacific Land Trust in the 2nd quarter worth approximately $493,000. 39.94% of the stock is owned by institutional investors.
Texas Pacific Land Trust (NYSE TPL) traded down $2.75 during mid-day trading on Monday, reaching $405.01. The company’s stock had a trading volume of 7,000 shares, compared to its average volume of 18,686. Texas Pacific Land Trust has a 1-year low of $259.00 and a 1-year high of $434.99. The company has a market cap of $3,174.89, a P/E ratio of 46.39 and a beta of 0.92.
Several equities research analysts recently issued reports on TPL shares. BidaskClub raised shares of Texas Pacific Land Trust from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. ValuEngine downgraded Texas Pacific Land Trust from a “buy” rating to a “hold” rating in a research note on Friday.
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Texas Pacific Land Trust Company Profile
Texas Pacific Land Trust (the Trust) is engaged in managing land, including royalty interests, for the benefit of its owners. The Company operates through managing the land segment, which includes sales and leases of such land, and the retention of oil and gas royalties. The Trust derives revenue from all avenues of managing the land, such as oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales.
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