Texas Pacific Land Co. (NYSE:TPL) is Schwartz Investment Counsel Inc.’s Largest Position

Schwartz Investment Counsel Inc. decreased its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,225 shares of the financial services provider’s stock after selling 3,247 shares during the period. Texas Pacific Land accounts for about 5.8% of Schwartz Investment Counsel Inc.’s holdings, 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 quarter.

Other large investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its stake in 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 valued at $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Texas Pacific Land by 315.4% during the 1st 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 in the last quarter. American National Bank bought a new position in shares of Texas Pacific Land in the second quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land in the second quarter worth $44,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Texas Pacific Land during the third quarter valued at $44,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

TPL stock opened at $1,089.97 on Friday. The firm has a 50 day simple moving average of $914.13 and a two-hundred day simple moving average of $769.64. The stock has a market cap of $25.05 billion, a PE ratio of 56.07 and a beta of 1.60. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,095.75.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $182.35 million. During the same quarter last year, the firm posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued 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 dividend yield of 0.43%. Texas Pacific Land’s dividend payout ratio is 24.07%.

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.