Texas Pacific Land Corporation $TPL Shares Acquired by Choate Investment Advisors

Choate Investment Advisors grew its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 181.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,085 shares of the financial services provider’s stock after buying an additional 1,345 shares during the period. Choate Investment Advisors’ holdings in Texas Pacific Land were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after buying an additional 69 shares during the last quarter. IFP Advisors Inc raised its position in shares of Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after buying an additional 63 shares during the last quarter. Quarry LP acquired a new stake in shares of Texas Pacific Land in the third quarter valued at about $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of Texas Pacific Land in the fourth quarter valued at about $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land in the third quarter valued at about $33,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, KeyCorp increased their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $639.00.

Texas Pacific Land Trading Down 0.5%

Texas Pacific Land stock opened at $399.96 on Wednesday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The stock has a market cap of $27.59 billion, a P/E ratio of 54.79 and a beta of 0.66. The company has a 50-day moving average price of $442.16 and a 200 day moving average price of $388.96.

Texas Pacific Land (NYSE:TPL) last released 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 net margin of 60.03% and a return on equity of 35.52%. The firm had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. As a group, analysts forecast that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.88%.

Texas Pacific Land Company Profile

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.