National Pension Service Buys 6,021 Shares of Texas Pacific Land Corporation $TPL

National Pension Service raised its stake in Texas Pacific Land Corporation (NYSE:TPL) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,720 shares of the financial services provider’s stock after acquiring an additional 6,021 shares during the quarter. National Pension Service owned approximately 0.06% of Texas Pacific Land worth $11,983,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in Texas Pacific Land in the 3rd quarter valued at approximately $29,000. Silicon Valley Capital Partners bought a new position in Texas Pacific Land in the 3rd quarter valued at approximately $33,000. Triumph Capital Management bought a new position in Texas Pacific Land in the 3rd quarter valued at approximately $36,000. IMA Advisory Services Inc. raised its holdings in Texas Pacific Land by 77.8% in the 3rd quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after buying an additional 21 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Texas Pacific Land in the 3rd quarter valued at approximately $46,000. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. KeyCorp raised their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research 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 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.00.

Texas Pacific Land Stock Down 0.1%

Shares of TPL stock opened at $392.54 on Monday. The company has a market cap of $27.07 billion, a price-to-earnings ratio of 53.77 and a beta of 0.61. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm has a 50 day moving average of $434.42 and a 200-day moving average of $390.40.

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

Texas Pacific Land Announces Dividend

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