TD Asset Management Inc Has $118.02 Million Stake in Texas Pacific Land Corporation $TPL

TD Asset Management Inc boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 240.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,889 shares of the financial services provider’s stock after buying an additional 290,037 shares during the quarter. TD Asset Management Inc owned approximately 0.60% of Texas Pacific Land worth $118,016,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TPL. Lido Advisors LLC boosted its stake in Texas Pacific Land by 53.7% in the fourth quarter. Lido Advisors LLC now owns 19,732 shares of the financial services provider’s stock worth $5,667,000 after purchasing an additional 6,894 shares in the last quarter. WCG Wealth Advisors LLC acquired a new position in Texas Pacific Land in the fourth quarter worth $5,044,000. Anchor Capital Advisors LLC boosted its stake in Texas Pacific Land by 212.7% in the fourth quarter. Anchor Capital Advisors LLC now owns 9,327 shares of the financial services provider’s stock worth $2,679,000 after purchasing an additional 6,344 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Texas Pacific Land by 408.4% in the fourth quarter. CIBC Asset Management Inc now owns 13,955 shares of the financial services provider’s stock worth $4,008,000 after purchasing an additional 11,210 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Texas Pacific Land by 194.2% in the 4th quarter. Bank of New York Mellon Corp now owns 352,809 shares of the financial services provider’s stock valued at $101,334,000 after acquiring an additional 232,870 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 0.1%

Shares of TPL opened at $407.06 on Friday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The firm has a market capitalization of $28.07 billion, a PE ratio of 55.76 and a beta of 0.61. The stock’s fifty day simple moving average is $423.19 and its 200-day simple moving average is $391.93.

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. 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 for the quarter, compared to analyst estimates of $233.00 million. Analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid 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 dividend payout ratio is 32.88%.

Wall Street Analyst Weigh In

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