BI Asset Management Fondsmaeglerselskab A S Purchases 1,436 Shares of Texas Pacific Land Corporation $TPL

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 192.8% during the 4th quarter, HoldingsChannel reports. The firm owned 2,181 shares of the financial services provider’s stock after acquiring an additional 1,436 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Texas Pacific Land were worth $626,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TPL. MassMutual Private Wealth & Trust FSB boosted its holdings in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. IFP Advisors Inc boosted its holdings in 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 acquiring an additional 63 shares in the last quarter. Quarry LP purchased a new stake in Texas Pacific Land during the 3rd quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new stake in Texas Pacific Land during the 4th quarter valued at about $31,000. Finally, Silicon Valley Capital Partners purchased a new stake in Texas Pacific Land during the 3rd quarter valued at about $33,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $376.68 on Thursday. The company has a market cap of $25.98 billion, a P/E ratio of 51.60 and a beta of 0.61. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock’s fifty day moving average price is $413.41 and its 200-day moving average price is $394.21.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. On average, sell-side analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on TPL shares. 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. KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Zacks Research downgraded shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. 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 investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Texas Pacific Land currently has a consensus rating of “Hold” and a consensus price target of $639.00.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the completion of the sale, the chief financial officer owned 12,040 shares in the company, valued at $4,819,973.20. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by insiders.

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.