Texas Pacific Land Corporation $TPL Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 197.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,245 shares of the financial services provider’s stock after acquiring an additional 2,816 shares during the period. Bridges Investment Management Inc.’s holdings in Texas Pacific Land were worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TPL. MassMutual Private Wealth & Trust FSB raised its holdings in 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 valued at $25,000 after acquiring an additional 69 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Texas Pacific Land by 185.3% during 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 acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 9.8%

Shares of TPL stock opened at $407.22 on Thursday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The stock has a market capitalization of $28.09 billion, a PE ratio of 55.78 and a beta of 0.61. The firm has a 50 day moving average of $425.75 and a two-hundred day moving average of $391.47.

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

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TPL shares. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. KeyCorp raised their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. 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 upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Texas Pacific Land currently has an average rating of “Hold” and a consensus target price of $639.00.

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.