KeyCorp Boosts Texas Pacific Land (NYSE:TPL) Price Target to $639.00

Texas Pacific Land (NYSE:TPL) had its price target upped by research analysts at KeyCorp from $350.00 to $639.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. KeyCorp’s price objective would suggest a potential upside of 27.96% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Stock Up 2.6%

NYSE TPL opened at $499.37 on Monday. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 71.58 and a beta of 0.95. Texas Pacific Land has a twelve month low of $269.23 and a twelve month high of $518.79. The business’s fifty day moving average is $339.97 and its 200 day moving average is $317.98.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Hedge Funds Weigh In On Texas Pacific Land

A number of large investors have recently modified their holdings of TPL. Swiss National Bank grew its stake in shares of Texas Pacific Land by 7.4% in the 2nd quarter. Swiss National Bank now owns 59,151 shares of the financial services provider’s stock worth $62,487,000 after acquiring an additional 4,100 shares in the last quarter. Prudential Financial Inc. increased its holdings in Texas Pacific Land by 8.8% during the second quarter. Prudential Financial Inc. now owns 10,966 shares of the financial services provider’s stock worth $11,584,000 after buying an additional 884 shares during the last quarter. Titleist Asset Management LLC grew its position in shares of Texas Pacific Land by 262.4% during the 2nd quarter. Titleist Asset Management LLC now owns 1,573 shares of the financial services provider’s stock valued at $1,662,000 after acquiring an additional 1,139 shares during the period. Westerkirk Capital Inc. purchased a new position in Texas Pacific Land in the second quarter valued at approximately $2,229,000. Finally, Strs Ohio grew its holdings in Texas Pacific Land by 103.7% during the second quarter. Strs Ohio now owns 1,306 shares of the financial services provider’s stock valued at $1,380,000 after purchasing an additional 665 shares during the period. 59.94% of the stock is currently owned by institutional investors.

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.