14,611 Shares in Texas Pacific Land Co. (NYSE:TPL) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in shares of Texas Pacific Land Co. (NYSE:TPL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,611 shares of the financial services provider’s stock, valued at approximately $12,928,000. Janney Montgomery Scott LLC owned about 0.06% of Texas Pacific Land as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 2nd quarter valued at $131,014,000. Bank of New York Mellon Corp raised its position in shares of Texas Pacific Land by 74.2% during the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after acquiring an additional 86,975 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Texas Pacific Land by 1,541.2% during the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after acquiring an additional 60,400 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Texas Pacific Land during the third quarter valued at $45,400,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Stock Performance

TPL opened at $1,330.35 on Thursday. The company has a fifty day moving average price of $964.56 and a two-hundred day moving average price of $804.02. The firm has a market capitalization of $30.57 billion, a PE ratio of 63.95 and a beta of 1.56. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,360.06.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 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 company had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period last year, the firm earned $4.35 earnings per share.

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.