Quent Capital LLC Has $2.58 Million Position in Texas Pacific Land Co. (NYSE:TPL)

Quent Capital LLC grew its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 16,100.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,916 shares of the financial services provider's stock after purchasing an additional 2,898 shares during the period. Quent Capital LLC's holdings in Texas Pacific Land were worth $2,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings in 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 worth $26,000 after purchasing an additional 30 shares in the last quarter. GAMMA Investing LLC increased its stake 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 valued at $31,000 after buying an additional 41 shares during the period. IFS Advisors LLC raised its holdings in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock valued at $38,000 after buying an additional 44 shares during the last quarter. American National Bank bought a new position in Texas Pacific Land in the 2nd quarter valued at approximately $42,000. Finally, Halpern Financial Inc. boosted its position in Texas Pacific Land by 200.0% during the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock worth $44,000 after buying an additional 50 shares during the period. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Up 1.1 %

Texas Pacific Land stock traded up $10.91 during mid-day trading on Friday, hitting $981.37. 100,496 shares of the stock were exchanged, compared to its average volume of 102,541. The firm's fifty day simple moving average is $848.83 and its two-hundred day simple moving average is $724.04. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $990.84. The stock has a market capitalization of $22.55 billion, a price-to-earnings ratio of 52.17 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the previous year, the business posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 3rd. Texas Pacific Land's payout ratio is 24.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. 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. StockNews.com lowered Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th.

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.