Texas Pacific Land Co. (NYSE:TPL) Stake Raised by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. raised its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 38.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,889 shares of the financial services provider’s stock after purchasing an additional 1,087 shares during the quarter. Texas Pacific Land comprises about 3.8% of Stegent Equity Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Stegent Equity Advisors Inc.’s holdings in Texas Pacific Land were worth $3,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 30 shares during the last quarter. GAMMA Investing LLC raised its position in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 41 shares during the period. American National Bank bought a new stake in shares of Texas Pacific Land in the 2nd quarter valued at approximately $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land in the 2nd quarter worth approximately $44,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $44,000. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

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

Texas Pacific Land Stock Down 0.7 %

NYSE:TPL traded down $7.49 during mid-day trading on Friday, hitting $1,058.53. 79,507 shares of the stock traded hands, compared to its average volume of 104,226. The stock has a market capitalization of $24.34 billion, a price-to-earnings ratio of 56.27 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,077.25. The firm’s 50 day moving average is $893.34 and its two-hundred day moving average is $757.14.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $182.35 million. During the same period in the prior year, the company posted $4.35 EPS.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is presently 24.88%.

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.