Scientech Research LLC Invests $1.64 Million in Texas Pacific Land Co. (NYSE:TPL)

Scientech Research LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,232 shares of the financial services provider's stock, valued at approximately $1,639,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its position in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock worth $26,000 after buying an additional 30 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after purchasing an additional 41 shares during the last quarter. IFS Advisors LLC increased its position in shares of Texas Pacific Land by 200.0% in the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock worth $38,000 after purchasing an additional 44 shares during the last quarter. American National Bank purchased a new stake in Texas Pacific Land in the second quarter valued at approximately $42,000. Finally, Halpern Financial Inc. lifted its position in Texas Pacific Land by 200.0% during the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TPL shares. StockNews.com downgraded shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th. BWS Financial reaffirmed a "buy" rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Stock Performance

TPL stock traded up $12.98 during trading on Friday, hitting $886.88. 37,484 shares of the company traded hands, compared to its average volume of 104,915. The company has a 50-day moving average of $834.36 and a 200-day moving average of $707.90. The firm has a market capitalization of $20.38 billion, a PE ratio of 46.46 and a beta of 1.60. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $959.50.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (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 firm had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the prior year, the business posted $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio (DPR) is 24.88%.

About Texas Pacific Land

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.