Texas Pacific Land Co. (NYSE:TPL) is Stegent Equity Advisors Inc.’s 4th Largest Position

Stegent Equity Advisors Inc. grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 38.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,889 shares of the financial services provider’s stock after buying an additional 1,087 shares during the quarter. Texas Pacific Land accounts for 3.8% of Stegent Equity Advisors Inc.’s investment portfolio, making the stock its 4th biggest 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.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 acquiring an additional 30 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at about $44,000. GAMMA Investing LLC boosted its stake 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 valued at $31,000 after purchasing an additional 41 shares during the period. American National Bank purchased a new stake in Texas Pacific Land during the 2nd quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land during the second quarter worth about $44,000. 59.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Trading Down 0.7 %

NYSE:TPL traded down $7.49 during trading hours on Friday, reaching $1,058.53. The company had a trading volume of 79,507 shares, compared to its average volume of 104,226. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,077.25. The firm has a market cap of $24.34 billion, a price-to-earnings ratio of 56.27 and a beta of 1.60. The firm’s 50 day moving average price is $893.34 and its 200-day moving average price is $757.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data 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 net margin of 66.71% and a return on equity of 41.29%. The firm had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the previous year, the business earned $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is currently 24.88%.

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.