BLI Banque de Luxembourg Investments Purchases 32,600 Shares of Texas Pacific Land Corporation $TPL

BLI Banque de Luxembourg Investments boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 245.1% during the fourth quarter, HoldingsChannel reports. The fund owned 45,900 shares of the financial services provider’s stock after buying an additional 32,600 shares during the quarter. BLI Banque de Luxembourg Investments’ holdings in Texas Pacific Land were worth $13,447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake 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 period. IFP Advisors Inc lifted its holdings in shares of Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after buying an additional 63 shares in the last quarter. Quarry LP purchased a new stake in shares of Texas Pacific Land in the third quarter worth about $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth about $31,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Texas Pacific Land in the fourth quarter worth about $31,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $397.28 on Tuesday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The firm’s 50 day simple moving average is $417.86 and its two-hundred day simple moving average is $393.07. The stock has a market capitalization of $27.40 billion, a P/E ratio of 54.42 and a beta of 0.61.

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 analysts’ consensus estimates 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 business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. As a group, equities analysts expect that Texas Pacific Land Corporation will post 8.88 earnings per share 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 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 presently 32.88%.

Analysts Set New Price Targets

TPL has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. KeyCorp increased 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, June 1st. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.