Texas Pacific Land Corporation $TPL Shares Acquired by MUFG Securities EMEA plc

MUFG Securities EMEA plc boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 542.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,376 shares of the financial services provider’s stock after purchasing an additional 2,006 shares during the quarter. MUFG Securities EMEA plc’s holdings in Texas Pacific Land were worth $682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Texas Yale Capital Corp. grew its position in Texas Pacific Land by 196.5% in the 4th quarter. Texas Yale Capital Corp. now owns 6,294 shares of the financial services provider’s stock worth $1,808,000 after purchasing an additional 4,171 shares during the last quarter. Sfmg LLC raised its holdings in shares of Texas Pacific Land by 252.3% during the fourth quarter. Sfmg LLC now owns 909 shares of the financial services provider’s stock valued at $261,000 after buying an additional 651 shares during the last quarter. DT Investment Partners LLC boosted its position in shares of Texas Pacific Land by 200.0% during the fourth quarter. DT Investment Partners LLC now owns 771 shares of the financial services provider’s stock worth $221,000 after buying an additional 514 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Texas Pacific Land by 190.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,470 shares of the financial services provider’s stock worth $3,869,000 after buying an additional 8,833 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Texas Pacific Land by 245.8% in the 4th quarter. BNP Paribas Financial Markets now owns 107,739 shares of the financial services provider’s stock worth $30,945,000 after buying an additional 76,585 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $407.22 on Thursday. The stock has a market cap of $28.09 billion, a price-to-earnings ratio of 55.78 and a beta of 0.61. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The stock’s 50 day moving average price is $425.75 and its 200 day moving average price is $391.47.

Texas Pacific Land (NYSE:TPL) last issued its quarterly 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 analysts’ expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. On average, sell-side analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s payout ratio is presently 32.88%.

Wall Street Analyst Weigh In

Several research firms recently commented on TPL. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.