Texas Pacific Land Corporation $TPL Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,891 shares of the financial services provider’s stock after purchasing an additional 2,598 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Texas Pacific Land were worth $1,118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Texas Pacific Land during the third quarter worth about $29,000. Silicon Valley Capital Partners acquired a new stake in Texas Pacific Land during the third quarter worth about $33,000. Triumph Capital Management acquired a new stake in Texas Pacific Land during the third quarter worth about $36,000. IMA Advisory Services Inc. increased its position in Texas Pacific Land by 77.8% during the third quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 21 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Texas Pacific Land during the third quarter worth about $46,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $402.89 on Friday. The firm has a market cap of $27.79 billion, a PE ratio of 55.19 and a beta of 0.66. The company has a 50-day moving average of $447.36 and a two-hundred day moving average of $387.06. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.04. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.88%.

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the transaction, the chief accounting officer owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Donna E. Epps acquired 895 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPL shares. KeyCorp raised their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen raised shares of 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 raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.