Groupama Asset Managment Acquires 1,419 Shares of Texas Pacific Land Corporation $TPL

Groupama Asset Managment raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 171.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,247 shares of the financial services provider’s stock after buying an additional 1,419 shares during the quarter. Groupama Asset Managment’s holdings in Texas Pacific Land were worth $645,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position 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 in the last quarter. Summit Securities Group LLC boosted its position in Texas Pacific Land by 171.9% in the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 55 shares during the last quarter. IFP Advisors Inc boosted 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 during the last quarter. Quarry LP purchased a new position in shares of Texas Pacific Land during the 3rd quarter worth $29,000. Finally, Eagle Bay Advisors LLC purchased a new position in Texas Pacific Land during the fourth quarter valued at $31,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of Texas Pacific Land 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 transaction, the chief financial officer owned 12,040 shares in the company, valued at $4,819,973.20. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Stock Down 0.0%

Shares of NYSE:TPL opened at $355.05 on Friday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The business’s 50 day moving average is $401.16 and its 200 day moving average is $396.96. The stock has a market cap of $24.49 billion, a P/E ratio of 48.64 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last announced 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. The firm had revenue of $236.80 million for 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, sell-side analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TPL shares. KeyCorp lifted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Finally, Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Texas Pacific Land has an average 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.