Legal & General Group Plc Boosts Holdings in Texas Pacific Land Corporation $TPL

Legal & General Group Plc grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 13.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,173 shares of the financial services provider’s stock after acquiring an additional 16,094 shares during the quarter. Legal & General Group Plc owned about 0.58% of Texas Pacific Land worth $141,739,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Texas Pacific Land by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock valued at $3,267,588,000 after purchasing an additional 115,743 shares during the period. TD Asset Management Inc raised its stake in Texas Pacific Land by 1,104.4% during the second quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock worth $101,543,000 after purchasing an additional 88,142 shares during the period. Nuveen LLC acquired a new position in shares of Texas Pacific Land in the 1st quarter valued at $68,518,000. CW Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 1st quarter valued at $31,919,000. Finally, Geode Capital Management LLC increased its holdings in shares of Texas Pacific Land by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock worth $648,866,000 after buying an additional 22,796 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on TPL shares. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Texas Pacific Land has a consensus rating of “Reduce”.

Texas Pacific Land Trading Down 2.0%

NYSE:TPL opened at $878.59 on Tuesday. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 43.80 and a beta of 1.12. The firm’s fifty day simple moving average is $935.90 and its 200 day simple moving average is $1,007.05. Texas Pacific Land Corporation has a twelve month low of $845.56 and a twelve month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.77 by ($0.50). The company had revenue of $203.10 million during the quarter, compared to analyst estimates of $175.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, December 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 30.92%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.