Flputnam Investment Management Co. Buys 3,733 Shares of Texas Pacific Land Corporation $TPL

Flputnam Investment Management Co. lifted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 199.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,604 shares of the financial services provider’s stock after acquiring an additional 3,733 shares during the period. Flputnam Investment Management Co.’s holdings in Texas Pacific Land were worth $1,610,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TPL. Vanguard Group Inc. boosted its stake in shares of Texas Pacific Land by 192.8% during the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock worth $2,170,512,000 after acquiring an additional 4,975,738 shares in the last quarter. Pacific Heights Asset Management LLC boosted its stake in shares of Texas Pacific Land by 235.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock worth $178,076,000 after acquiring an additional 435,000 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its stake in shares of Texas Pacific Land by 209.7% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after acquiring an additional 321,683 shares in the last quarter. UBS Group AG boosted its stake in shares of Texas Pacific Land by 232.4% during the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock worth $130,982,000 after acquiring an additional 318,842 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Texas Pacific Land by 209.6% during the 4th quarter. Legal & General Group Plc now owns 399,676 shares of the financial services provider’s stock worth $114,795,000 after acquiring an additional 270,583 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

NYSE TPL opened at $401.33 on Friday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The stock has a market capitalization of $27.68 billion, a PE ratio of 54.98 and a beta of 0.66. The stock has a 50-day simple moving average of $437.18 and a 200 day simple moving average of $389.97.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. As a group, equities research analysts forecast that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

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

Analyst Upgrades and Downgrades

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