Texas Pacific Land Co. (NYSE:TPL) Shares Acquired by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. increased its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 38.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,889 shares of the financial services provider's stock after acquiring an additional 1,087 shares during the period. Texas Pacific Land accounts for about 3.8% of Stegent Equity Advisors Inc.'s holdings, making the stock its 4th largest position. Stegent Equity Advisors Inc.'s holdings in Texas Pacific Land were worth $3,441,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TPL. Vanguard Group Inc. boosted its holdings in 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 valued at $1,099,867,000 after acquiring an additional 1,267,123 shares during the period. Bank of New York Mellon Corp boosted its stake in Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock valued at $149,920,000 after purchasing an additional 86,975 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in Texas Pacific Land in the 2nd quarter valued at approximately $131,014,000. Dimensional Fund Advisors LP increased its position in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock worth $92,632,000 after buying an additional 9,878 shares during the period. Finally, Mad River Investors lifted its holdings in shares of Texas Pacific Land by 199.2% during the first quarter. Mad River Investors now owns 100,121 shares of the financial services provider's stock worth $57,921,000 after buying an additional 66,663 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Price Performance

Shares of NYSE TPL traded down $7.49 during mid-day trading on Friday, hitting $1,058.53. The company had a trading volume of 79,507 shares, compared to its average volume of 107,858. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,077.25. The firm has a market cap of $24.33 billion, a P/E ratio of 54.45 and a beta of 1.60. The business's 50-day simple moving average is $893.34 and its 200-day simple moving average is $757.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same quarter in the prior year, the business posted $4.35 EPS.

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 paid a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.44%. 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.