X Square Capital LLC Increases Position in Texas Pacific Land Corporation $TPL

X Square Capital LLC grew its stake in Texas Pacific Land Corporation (NYSE:TPL) by 208.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,602 shares of the financial services provider’s stock after acquiring an additional 3,109 shares during the quarter. X Square Capital LLC’s holdings in Texas Pacific Land were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Texas Pacific Land by 363.2% in the 4th 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 period. IFP Advisors Inc increased its holdings in shares of Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 63 shares during the period. Quarry LP purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at $29,000. Eagle Bay Advisors LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $31,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Texas Pacific Land in the 4th quarter valued at $31,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $397.28 on Tuesday. The business’s 50-day moving average is $417.86 and its 200 day moving average is $393.07. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm has a market capitalization of $27.40 billion, a P/E ratio of 54.42 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. On average, analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio is currently 32.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TPL shares. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. KeyCorp upped their target price 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. Finally, Zacks Research lowered Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Pacific Land currently has a consensus rating of “Hold” 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.