Texas Pacific Land Co. (NYSE:TPL) Stock Holdings Lowered by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lessened its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 188,472 shares of the financial services provider's stock after selling 9,882 shares during the period. Texas Pacific Land makes up about 5.1% of Schwartz Investment Counsel Inc.'s holdings, making the stock its biggest position. Schwartz Investment Counsel Inc. owned 0.82% of Texas Pacific Land worth $138,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 199.8% during the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock worth $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Pacific Heights Asset Management LLC raised its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider's stock valued at $95,454,000 after buying an additional 110,000 shares in the last quarter. Mad River Investors lifted its holdings in shares of Texas Pacific Land by 199.2% during the 1st quarter. Mad River Investors now owns 100,121 shares of the financial services provider's stock worth $57,921,000 after acquiring an additional 66,663 shares during the last quarter. Hodges Capital Management Inc. grew its position in Texas Pacific Land by 130.9% in the first quarter. Hodges Capital Management Inc. now owns 77,137 shares of the financial services provider's stock worth $44,625,000 after acquiring an additional 43,726 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Texas Pacific Land by 244.2% in the first quarter. California State Teachers Retirement System now owns 58,383 shares of the financial services provider's stock valued at $33,775,000 after acquiring an additional 41,422 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

TPL stock traded up $29.08 during trading on Friday, hitting $859.01. 77,398 shares of the company traded hands, compared to its average volume of 105,902. The company has a 50-day moving average of $791.52 and a 200-day moving average of $649.33. The firm has a market capitalization of $19.75 billion, a PE ratio of 45.67 and a beta of 1.63. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $861.45.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The company had revenue of $172.33 million during the quarter, compared to analysts' expectations of $182.35 million. During the same period in the prior year, the business posted $4.35 earnings per share. Sell-side analysts expect that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.54%. Texas Pacific Land's payout ratio is 24.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com lowered Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th. BWS Financial reaffirmed a "buy" rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.

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.