State Board of Administration of Florida Retirement System Has $21.02 Million Holdings in Texas Pacific Land Corporation $TPL

State Board of Administration of Florida Retirement System raised its stake in Texas Pacific Land Corporation (NYSE:TPL) by 2.0% in the second quarter, Holdings Channel reports. The fund owned 19,902 shares of the financial services provider’s stock after purchasing an additional 394 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Texas Pacific Land were worth $21,024,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hemington Wealth Management lifted its stake in Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 8 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Texas Pacific Land by 2.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 461 shares of the financial services provider’s stock valued at $619,000 after acquiring an additional 10 shares in the last quarter. Evergreen Capital Management LLC grew its position in Texas Pacific Land by 0.7% during the 1st quarter. Evergreen Capital Management LLC now owns 1,351 shares of the financial services provider’s stock worth $1,790,000 after acquiring an additional 10 shares during the last quarter. Insight Wealth Partners LLC grew its position in Texas Pacific Land by 5.6% during the 2nd quarter. Insight Wealth Partners LLC now owns 208 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 11 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in Texas Pacific Land by 1.5% in the 1st quarter. Wealthspire Advisors LLC now owns 806 shares of the financial services provider’s stock worth $1,068,000 after purchasing an additional 12 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, November 24th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $864.29 on Monday. Texas Pacific Land Corporation has a one year low of $838.27 and a one year high of $1,692.51. The stock’s 50 day moving average is $932.24 and its 200 day moving average is $993.21. The firm has a market cap of $19.86 billion, a P/E ratio of 43.09 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm 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. Stockholders of record on Monday, December 1st will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land’s dividend payout ratio (DPR) is 30.92%.

Texas Pacific Land Company Profile

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.