Anchor Capital Advisors LLC Has $2.68 Million Holdings in Texas Pacific Land Corporation $TPL

Anchor Capital Advisors LLC grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 212.7% in the 4th quarter, HoldingsChannel reports. The fund owned 9,327 shares of the financial services provider’s stock after buying an additional 6,344 shares during the period. Anchor Capital Advisors LLC’s holdings in Texas Pacific Land were worth $2,679,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Texas Pacific Land during the third quarter worth about $29,000. Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land in the third quarter valued at approximately $33,000. Triumph Capital Management purchased a new position in shares of Texas Pacific Land during the third quarter valued at approximately $36,000. IMA Advisory Services Inc. boosted its position in shares of Texas Pacific Land by 77.8% during the third 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 stake in Texas Pacific Land during the third quarter worth $46,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPL has been the subject of a number of analyst reports. KeyCorp increased their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Zacks Research downgraded shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Texas Pacific Land presently has an average rating of “Hold” and a consensus price target of $639.00.

Texas Pacific Land Trading Up 9.8%

TPL stock opened at $407.22 on Thursday. The stock has a market cap of $28.09 billion, a P/E ratio of 55.78 and a beta of 0.61. The stock’s fifty day simple moving average is $425.75 and its two-hundred day simple moving average is $391.47. 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 announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. As a group, analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

Texas Pacific Land 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.