Azzad Asset Management Inc. ADV Grows Holdings in Texas Pacific Land Co. (NYSE:TPL)

Azzad Asset Management Inc. ADV raised its position in Texas Pacific Land Co. (NYSE:TPL) by 213.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,702 shares of the financial services provider’s stock after buying an additional 2,520 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Texas Pacific Land were worth $2,142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Texas Pacific Land in the fourth quarter valued at $36,000. IFS Advisors LLC grew its position in shares of Texas Pacific Land by 200.0% in the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. grew its position in shares of Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TPL shares. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial reiterated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research report on Friday, May 10th.

Texas Pacific Land Trading Up 2.0 %

TPL opened at $749.73 on Thursday. The firm has a market capitalization of $17.24 billion, a PE ratio of 39.86 and a beta of 1.63. Texas Pacific Land Co. has a twelve month low of $429.56 and a twelve month high of $799.46. The firm’s 50-day moving average price is $652.58 and its 200 day moving average price is $574.34.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.39. The firm had revenue of $174.14 million for the quarter, compared to analyst estimates of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. As a group, analysts predict that Texas Pacific Land Co. will post 21.2 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently declared a None dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $10.00 per share. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land’s payout ratio is presently 24.88%.

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.