Quent Capital LLC Buys 2,898 Shares of Texas Pacific Land Co. (NYSE:TPL)

Quent Capital LLC boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 16,100.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,916 shares of the financial services provider’s stock after buying an additional 2,898 shares during the period. Quent Capital LLC’s holdings in Texas Pacific Land were worth $2,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its holdings in shares of Texas Pacific Land by 13.7% during the fourth quarter. TD Asset Management Inc now owns 1,134 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 137 shares in the last quarter. NEOS Investment Management LLC increased its stake in Texas Pacific Land by 5.0% during the 4th quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 7 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in Texas Pacific Land by 5.2% during the fourth quarter. Royal London Asset Management Ltd. now owns 2,643 shares of the financial services provider’s stock worth $4,156,000 after buying an additional 130 shares during the last quarter. First Trust Advisors LP raised its holdings in Texas Pacific Land by 106.5% during the fourth quarter. First Trust Advisors LP now owns 19,495 shares of the financial services provider’s stock worth $30,655,000 after buying an additional 10,056 shares during the last quarter. Finally, Prudential PLC lifted its stake in shares of Texas Pacific Land by 19.8% in the fourth quarter. Prudential PLC now owns 448 shares of the financial services provider’s stock valued at $704,000 after buying an additional 74 shares in the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

TPL traded up $10.91 during mid-day trading on Friday, reaching $981.37. 100,496 shares of the stock were exchanged, compared to its average volume of 102,541. The company has a 50 day moving average price of $848.83 and a two-hundred day moving average price of $724.04. The stock has a market capitalization of $22.55 billion, a PE ratio of 52.17 and a beta of 1.60. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $990.84.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) 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 firm had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same period in the previous year, the company 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. Investors of record on Tuesday, September 3rd were given 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 was Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BWS Financial restated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a 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.