Schwartz Investment Counsel Inc. Trims Holdings in Texas Pacific Land Co. (NYSE:TPL)

Schwartz Investment Counsel Inc. trimmed its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,225 shares of the financial services provider's stock after selling 3,247 shares during the quarter. Texas Pacific Land makes up about 5.8% of Schwartz Investment Counsel Inc.'s investment portfolio, making the stock its biggest position. Schwartz Investment Counsel Inc. owned 0.81% of Texas Pacific Land worth $163,876,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Texas Pacific Land by 315.4% during 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. Janiczek Wealth Management LLC increased its position in Texas Pacific Land by 1,185.7% in the 1st quarter. Janiczek Wealth Management LLC now owns 90 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 83 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Texas Pacific Land by 559.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,242 shares of the financial services provider's stock valued at $5,346,000 after acquiring an additional 7,840 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of Texas Pacific Land by 201.1% in the first quarter. Financial Management Professionals Inc. now owns 524 shares of the financial services provider's stock worth $303,000 after acquiring an additional 350 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Texas Pacific Land by 130.9% during the first quarter. Hodges Capital Management Inc. now owns 77,137 shares of the financial services provider's stock worth $44,625,000 after purchasing an additional 43,726 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Stock Up 0.6 %

TPL stock traded up $6.52 during midday trading on Friday, reaching $1,096.49. The stock had a trading volume of 55,566 shares, compared to its average volume of 103,192. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of 56.40 and a beta of 1.60. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,106.87. The business has a fifty day simple moving average of $919.63 and a two-hundred day simple moving average of $773.23.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted 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 the consensus estimate of $182.35 million. During the same period last year, the firm earned $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.43%. Texas Pacific Land's dividend payout ratio (DPR) is presently 24.07%.

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.