2,006 Shares in Texas Pacific Land Corporation $TPL Purchased by Fideuram Asset Management Ireland dac

Fideuram Asset Management Ireland dac bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,006 shares of the financial services provider’s stock, valued at approximately $576,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position 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 worth $2,170,512,000 after purchasing an additional 4,975,738 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Texas Pacific Land by 203.7% during the fourth quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock worth $503,581,000 after purchasing an additional 1,179,788 shares in the last quarter. State Street Corp grew its position 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 worth $1,091,704,000 after purchasing an additional 22,296 shares in the last quarter. Pacific Heights Asset Management LLC grew its position 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 worth $178,076,000 after purchasing an additional 435,000 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. grew its position 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 worth $136,459,000 after purchasing an additional 321,683 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Price Performance

NYSE TPL opened at $392.54 on Friday. The stock has a market capitalization of $27.07 billion, a PE ratio of 53.77 and a beta of 0.66. The business has a 50 day simple moving average of $434.42 and a two-hundred day simple moving average of $389.99. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate 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%. On average, analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued 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 currently 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.