63,642 Texas Pacific Land Corporation $TPL Shares Acquired by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. raised its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 15.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 477,099 shares of the financial services provider’s stock after acquiring an additional 63,642 shares during the period. Texas Pacific Land accounts for 5.4% of Schwartz Investment Counsel Inc.’s holdings, making the stock its 2nd biggest holding. Schwartz Investment Counsel Inc.’s holdings in Texas Pacific Land were worth $155,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Texas Pacific Land by 4.8% during the 2nd quarter. State Street Corp now owns 3,964,748 shares of the financial services provider’s stock valued at $1,735,132,000 after acquiring an additional 179,791 shares during the period. Pacific Heights Asset Management LLC acquired a new position in Texas Pacific Land in the 2nd quarter worth about $258,208,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Texas Pacific Land by 6.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 477,430 shares of the financial services provider’s stock worth $208,942,000 after purchasing an additional 30,911 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Texas Pacific Land by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 357,379 shares of the financial services provider’s stock worth $169,598,000 after purchasing an additional 4,570 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Texas Pacific Land during the second quarter worth approximately $153,373,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPL has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Moderate Buy” and a consensus target price of $639.00.

Texas Pacific Land Trading Down 0.9%

NYSE TPL opened at $330.44 on Wednesday. The business’s fifty day simple moving average is $355.71 and its 200-day simple moving average is $400.40. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.05. The business had revenue of $246.10 million during the quarter, compared to analyst estimates of $249.50 million. As a group, sell-side analysts forecast that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st.

Texas Pacific Land Profile

Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. The company owns approximately 850,000 acres of land and holds extensive oil and gas royalty interests, making it a significant participant in the region’s energy development.

Texas Pacific Land generates revenue through royalties on oil and natural gas produced from its acreage, as well as from land sales, easements, leases and other surface-related activities.