Janney Montgomery Scott LLC Buys Shares of 14,611 Texas Pacific Land Co. (NYSE:TPL)

Janney Montgomery Scott LLC acquired a new position in Texas Pacific Land Co. (NYSE:TPL - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,611 shares of the financial services provider's stock, valued at approximately $12,928,000. Janney Montgomery Scott LLC owned 0.06% of Texas Pacific Land at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. American National Bank purchased a new stake in shares of Texas Pacific Land during the second quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land during the second quarter valued at about $44,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Texas Pacific Land during the third quarter valued at about $44,000. Signaturefd LLC lifted its position in shares of Texas Pacific Land by 16.9% during the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after buying an additional 13 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in shares of Texas Pacific Land by 200.0% during the first quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider's stock valued at $83,000 after buying an additional 96 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BWS Financial restated a "buy" rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Trading Up 0.4 %

NYSE:TPL traded up $5.69 during trading hours on Thursday, reaching $1,335.31. 190,988 shares of the company were exchanged, compared to its average volume of 103,657. The firm has a market cap of $30.69 billion, a PE ratio of 68.43 and a beta of 1.56. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,360.06. The stock's 50-day moving average is $973.69 and its 200-day moving average is $807.70.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued 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). The business had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter last year, the company earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. The ex-dividend date is Monday, December 2nd. Texas Pacific Land's dividend payout ratio is currently 24.07%.

Texas Pacific Land Company 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.