Azzad Asset Management Inc. ADV Purchases 48 Shares of Texas Pacific Land Co. (NYSE:TPL)

Azzad Asset Management Inc. ADV boosted its holdings in Texas Pacific Land Co. (NYSE:TPL) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,750 shares of the financial services provider’s stock after purchasing an additional 48 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Texas Pacific Land were worth $2,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its holdings 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 valued at $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC lifted its position in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 41 shares in the last quarter. IFS Advisors LLC boosted its stake in Texas Pacific Land by 200.0% during the 1st 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 last quarter. American National Bank bought a new stake in Texas Pacific Land during the 2nd quarter worth approximately $42,000. Finally, Halpern Financial Inc. lifted its holdings 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 in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Down 0.3 %

Shares of TPL stock traded down $2.27 during trading on Friday, hitting $868.50. The company’s stock had a trading volume of 134,740 shares, compared to its average volume of 105,247. The company has a market cap of $19.96 billion, a PE ratio of 46.17 and a beta of 1.63. The business has a fifty day moving average of $801.66 and a 200-day moving average of $662.36. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $881.12.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). The business had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period in the prior year, the firm posted $4.35 EPS. As a group, research analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.54%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TPL shares. StockNews.com lowered 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 report on Monday, August 12th.

Texas Pacific Land 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.