Bank of New York Mellon Corp Has $101.33 Million Position in Texas Pacific Land Corporation $TPL

Bank of New York Mellon Corp raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 194.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,809 shares of the financial services provider’s stock after purchasing an additional 232,870 shares during the quarter. Bank of New York Mellon Corp’s holdings in Texas Pacific Land were worth $101,334,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Texas Pacific Land by 39.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock valued at $2,570,000 after buying an additional 545 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Texas Pacific Land by 74.1% during the first quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider’s stock worth $1,211,000 after acquiring an additional 389 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Texas Pacific Land by 40.8% in the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 461 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 12 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock valued at $4,812,000 after acquiring an additional 4,355 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 0.1%

Texas Pacific Land stock opened at $389.54 on Monday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The company’s 50 day moving average price is $420.36 and its two-hundred day moving average price is $392.43. The stock has a market cap of $26.87 billion, a P/E ratio of 53.36 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last released 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 company 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%. On average, equities analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. 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 is 32.88%.

Analyst Ratings Changes

TPL has been the subject of a number of recent research reports. Zacks Research lowered Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, 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. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $639.00.

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.