EagleClaw Capital Managment LLC Has $42.05 Million Stock Holdings in Texas Pacific Land Corporation $TPL

EagleClaw Capital Managment LLC boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 199.1% in the fourth quarter, HoldingsChannel reports. The firm owned 146,388 shares of the financial services provider’s stock after acquiring an additional 97,440 shares during the period. Texas Pacific Land makes up approximately 6.1% of EagleClaw Capital Managment LLC’s holdings, making the stock its largest holding. EagleClaw Capital Managment LLC’s holdings in Texas Pacific Land were worth $42,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after buying an additional 12 shares during the last quarter. PFG Investments LLC increased its position in Texas Pacific Land by 3.6% during the third quarter. PFG Investments LLC now owns 373 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 13 shares during the last quarter. Truist Financial Corp increased its position in Texas Pacific Land by 0.6% during the third quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock valued at $2,050,000 after acquiring an additional 14 shares during the last quarter. Jones Financial Companies Lllp increased its position in Texas Pacific Land by 9.1% during the third quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 14 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Texas Pacific Land by 2.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock valued at $575,000 after acquiring an additional 15 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $401.33 on Friday. The stock has a 50-day simple moving average of $437.18 and a two-hundred day simple moving average of $389.97. 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 $27.68 billion, a PE ratio of 54.98 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last released 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 return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. Equities analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s payout ratio is currently 32.88%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp upped their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land currently 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.