Texas Pacific Land Corporation $TPL Holdings Lifted by Flputnam Investment Management Co.

Flputnam Investment Management Co. increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 199.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,604 shares of the financial services provider’s stock after buying an additional 3,733 shares during the quarter. Flputnam Investment Management Co.’s holdings in Texas Pacific Land were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 192.8% during the fourth quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock valued at $2,170,512,000 after buying an additional 4,975,738 shares in the last quarter. State Street Corp grew its holdings in shares of Texas Pacific Land by 1.9% during the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock valued at $1,091,704,000 after buying an additional 22,296 shares in the last quarter. Pacific Heights Asset Management LLC grew its holdings in shares of Texas Pacific Land by 235.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock valued at $178,076,000 after buying an additional 435,000 shares in the last quarter. Schwartz Investment Counsel Inc. grew its holdings in shares of Texas Pacific Land by 209.7% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock valued at $136,459,000 after buying an additional 321,683 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Texas Pacific Land by 232.4% during the fourth quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock valued at $130,982,000 after buying an additional 318,842 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $401.33 on Friday. The business’s 50-day moving average price is $437.18 and its two-hundred day moving average price is $389.97. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The company has a market capitalization of $27.68 billion, a P/E ratio of 54.98 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $233.00 million. On average, equities analysts anticipate 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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date 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.