National Pension Service Acquires 142 Shares of Texas Pacific Land Corporation $TPL

National Pension Service lifted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 0.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 32,435 shares of the financial services provider’s stock after acquiring an additional 142 shares during the period. National Pension Service owned approximately 0.14% of Texas Pacific Land worth $34,264,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock valued at $3,267,588,000 after acquiring an additional 115,743 shares during the period. TD Asset Management Inc boosted its holdings in Texas Pacific Land by 1,104.4% during the second quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock valued at $101,543,000 after purchasing an additional 88,142 shares in the last quarter. Nuveen LLC bought a new stake in shares of Texas Pacific Land in the 1st quarter valued at approximately $68,518,000. CW Advisors LLC bought a new stake in shares of Texas Pacific Land in the 1st quarter valued at approximately $31,919,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Texas Pacific Land by 23.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider’s stock worth $120,573,000 after buying an additional 17,066 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Eric L. Oliver acquired 100 shares of the stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director owned 393,600 shares of the company’s stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,025.41 on Friday. The business has a fifty day moving average price of $938.07 and a 200 day moving average price of $1,028.66. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 51.12 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $5.27 EPS for the quarter, missing the consensus estimate of $5.77 by ($0.50). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The business had revenue of $203.10 million for the quarter, compared to the consensus estimate of $175.00 million.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several brokerages recently commented on TPL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Texas Pacific Land currently has an average rating of “Reduce”.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.