MUFG Securities EMEA plc boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL – Free Report) by 542.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,376 shares of the financial services provider’s stock after purchasing an additional 2,006 shares during the period. MUFG Securities EMEA plc’s holdings in Texas Pacific Land were worth $682,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TPL. EverSource Wealth Advisors LLC grew its position in Texas Pacific Land by 21.4% in the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after buying an additional 12 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Texas Pacific Land by 0.6% during the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock worth $2,050,000 after acquiring an additional 14 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 14 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Texas Pacific Land by 2.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 15 shares during the period. Finally, Bridgewater Advisors Inc. raised its position in shares of Texas Pacific Land by 7.0% during the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 15 shares during the period. 59.94% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on TPL shares. Zacks Research lowered Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday. KeyCorp boosted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $639.00.
Texas Pacific Land Trading Up 9.8%
Shares of TPL stock opened at $407.22 on Thursday. The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of 55.78 and a beta of 0.61. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The stock’s fifty day simple moving average is $425.75 and its 200-day simple moving average is $391.47.
Texas Pacific Land (NYSE:TPL – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. On average, sell-side analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current year.
Texas Pacific Land Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio is 32.88%.
About Texas Pacific Land
Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.
The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.
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