DNB Asset Management AS Purchases 7,926 Shares of Texas Pacific Land Corporation $TPL

DNB Asset Management AS raised its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,889 shares of the financial services provider’s stock after purchasing an additional 7,926 shares during the period. DNB Asset Management AS’s holdings in Texas Pacific Land were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Texas Pacific Land by 192.8% in the fourth quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock worth $2,170,512,000 after acquiring an additional 4,975,738 shares during the period. Schwartz Investment Counsel Inc. boosted its holdings in shares of Texas Pacific Land by 209.7% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after acquiring an additional 321,683 shares during the period. UBS Group AG boosted its holdings in shares of Texas Pacific Land by 232.4% in the fourth quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock worth $130,982,000 after acquiring an additional 318,842 shares during the period. York GP Ltd. boosted its holdings in shares of Texas Pacific Land by 195.1% in the fourth quarter. York GP Ltd. now owns 270,600 shares of the financial services provider’s stock worth $77,722,000 after acquiring an additional 178,900 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Texas Pacific Land by 20,072.4% in the fourth quarter. M&T Bank Corp now owns 155,529 shares of the financial services provider’s stock worth $44,671,000 after acquiring an additional 154,758 shares during the period. 59.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Donna E. Epps purchased 895 shares of the stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares in the company, valued at $1,072,899. The trade was a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $394.39 on Wednesday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The company has a market capitalization of $27.20 billion, a PE ratio of 54.03 and a beta of 0.66. The business’s fifty day moving average is $454.99 and its 200 day moving average is $385.72.

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

Texas Pacific Land Dividend Announcement

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

Wall Street Analysts Forecast Growth

TPL has been the subject of a number of analyst reports. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Texas Pacific Land presently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Profile

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.