Mirae Asset Global Investments Co. Ltd. acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL – Free Report) during the 3rd quarter, Holdings Channel reports. The fund acquired 14,685 shares of the financial services provider’s stock, valued at approximately $4,785,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in shares of Texas Pacific Land by 16.4% during the third quarter. ProShare Advisors LLC now owns 11,843 shares of the financial services provider’s stock worth $3,859,000 after buying an additional 1,671 shares during the period. Vise Technologies Inc. grew its holdings in shares of Texas Pacific Land by 110.2% during the third quarter. Vise Technologies Inc. now owns 1,221 shares of the financial services provider’s stock worth $398,000 after buying an additional 640 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of Texas Pacific Land by 0.4% during the third quarter. MGO One Seven LLC now owns 45,868 shares of the financial services provider’s stock worth $14,945,000 after buying an additional 202 shares in the last quarter. Choreo LLC raised its position in Texas Pacific Land by 12.1% in the 3rd quarter. Choreo LLC now owns 1,372 shares of the financial services provider’s stock valued at $447,000 after buying an additional 148 shares during the last quarter. Finally, BOKF NA raised its position in Texas Pacific Land by 30.0% in the 3rd quarter. BOKF NA now owns 2,773 shares of the financial services provider’s stock valued at $904,000 after buying an additional 640 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.
Texas Pacific Land Trading Down 4.8%
Shares of NYSE TPL opened at $273.81 on Friday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The company has a market capitalization of $18.88 billion, a P/E ratio of 32.18 and a beta of 0.58. The stock has a 50 day moving average of $347.78 and a 200-day moving average of $400.25.
Texas Pacific Land (NYSE:TPL – Get Free Report) last announced its earnings results on Wednesday, November 4th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.09. Texas Pacific Land had a return on equity of 37.60% and a net margin of 60.71%. The company had revenue of $273.40 million for the quarter, compared to analyst estimates of $251.00 million. Analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.
Texas Pacific Land Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.40 annualized dividend and a yield of 0.9%. Texas Pacific Land’s dividend payout ratio (DPR) is 30.57%.
Analyst Upgrades and Downgrades
Several research firms have commented on TPL. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $639.00.
Get Our Latest Research Report on TPL
Key Headlines Impacting Texas Pacific Land
Here are the key news stories impacting Texas Pacific Land this week:
- Positive Sentiment: Record Q3 results topped estimates. TPL earned $2.42 per share, ahead of analyst expectations of about $2.33–$2.35, while revenue of $273.4 million exceeded the $251 million estimate. Earnings rose from $1.76 per share a year earlier; coverage highlighted stronger gas realizations as a contributor. Article: Texas Pacific Q3 Earnings and Revenues Top Estimates
- Positive Sentiment: Management pointed to broad-based growth. The Q3 earnings call highlighted momentum across the business, supporting the outlook beyond the headline quarterly beat. Article: Texas Pacific Land Earnings Call Signals Broad-Based Growth
- Positive Sentiment: Water infrastructure could add to growth. TPL expects to begin flowing field-produced water into its Orla facility by year-end, a potential operational and revenue opportunity. Article: TPL expects water flows into Orla facility by year-end
- Positive Sentiment: Quarterly dividend declared. The $0.60-per-share dividend is payable December 15 to shareholders of record December 1, equivalent to $2.40 annualized.
- Negative Sentiment: Texas data-center permitting pause clouds development prospects. The pause introduces uncertainty around TPL’s data-center-related opportunities and may temper enthusiasm for otherwise strong results. Article: Texas data-center permitting pause
Texas Pacific Land Company 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.
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