Mitsubishi UFJ Trust & Banking Corp Purchases 18,395 Shares of Texas Pacific Land Corporation $TPL

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 136.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,887 shares of the financial services provider’s stock after acquiring an additional 18,395 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Texas Pacific Land were worth $9,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB lifted its stake in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 69 shares during the last quarter. Quarry LP acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth $29,000. CX Institutional bought a new position in shares of Texas Pacific Land during the 3rd quarter valued at $30,000. Eagle Bay Advisors LLC bought a new position in shares of Texas Pacific Land during the 4th quarter valued at $31,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $33,000. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Texas Pacific Land

In other news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. The trade was a 42.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the acquisition, the director owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by corporate insiders.

Texas Pacific Land Trading Down 2.2%

NYSE:TPL opened at $433.94 on Friday. The firm has a market capitalization of $29.92 billion, a PE ratio of 62.20 and a beta of 0.67. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm’s fifty day simple moving average is $481.54 and its 200 day simple moving average is $378.28.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. As a group, analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is presently 34.38%.

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.