Epoch Investment Partners Inc. Raises Position in Texas Pacific Land Corporation $TPL

Epoch Investment Partners Inc. boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 252.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381,685 shares of the financial services provider’s stock after buying an additional 273,536 shares during the period. Epoch Investment Partners Inc. owned 0.55% of Texas Pacific Land worth $109,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 63 shares during the last quarter. Quarry LP purchased a new position in shares of Texas Pacific Land during the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new position in shares of Texas Pacific Land during the fourth quarter valued at approximately $31,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Texas Pacific Land during the fourth quarter valued at approximately $31,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 3,170 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the completion of the transaction, the chief financial officer directly owned 12,870 shares in the company, valued at $5,151,217.50. The trade was a 19.76% decrease in their position. The sale was disclosed in a legal filing 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.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TPL shares. Zacks Research lowered shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. KeyCorp lifted their target price 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 upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Stock Performance

TPL stock opened at $379.00 on Friday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 51.92 and a beta of 0.61. The firm has a 50 day moving average price of $410.12 and a 200-day moving average price of $394.59.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. As a group, sell-side analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

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

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.