Advanced Custom Fields – display label and value only if value entered

You have a mismatch in your PHP tags. Use this:

<?php
$field_name = "text_field";
$field = get_field_object($field_name);   
?>

<table>
    <tbody>
    <?php
    if( isset($field['value'] ): ?> 
        <tr>
            <th><?php echo $field['label']; ?></th>
            <td><?php echo $field['value']; ?></td>
        </tr>
    <?php endif; ?>
    </tbody>
</table>