EagleClaw Capital Managment LLC Raises Holdings in Texas Pacific Land Corporation $TPL

EagleClaw Capital Managment LLC raised its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 199.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,388 shares of the financial services provider’s stock after buying an additional 97,440 shares during the quarter. Texas Pacific Land comprises 6.1% of EagleClaw Capital Managment LLC’s investment portfolio, making the stock its largest position. EagleClaw Capital Managment LLC owned approximately 0.21% of Texas Pacific Land worth $42,046,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after buying an additional 69 shares during the last quarter. IFP Advisors Inc grew its position in shares of Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after buying an additional 63 shares during the last quarter. Quarry LP bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $33,000. 59.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Pacific Land has a consensus rating of “Moderate Buy” and a consensus target price of $639.00.

Texas Pacific Land Stock Down 1.2%

TPL opened at $401.33 on Friday. The stock has a market cap of $27.68 billion, a PE ratio of 54.98 and a beta of 0.66. The business has a 50 day moving average of $437.18 and a 200-day moving average of $389.97. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. Equities analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.60 dividend. 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%.

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.