Epoch Investment Partners Inc. Increases Stock Position in Texas Pacific Land Corporation $TPL

Epoch Investment Partners Inc. increased its position in Texas Pacific Land Corporation (NYSE:TPL) by 252.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 381,685 shares of the financial services provider’s stock after purchasing an additional 273,536 shares during the period. Epoch Investment Partners Inc.’s holdings in Texas Pacific Land were worth $109,628,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Horizon Kinetics Asset Management LLC grew its position in Texas Pacific Land by 194.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider’s stock worth $2,968,063,000 after purchasing an additional 6,829,070 shares during the period. Vanguard Group Inc. grew its position in Texas Pacific Land by 192.8% in 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 purchasing an additional 4,975,738 shares during the period. State Street Corp grew its position in Texas Pacific Land by 206.8% in the 4th quarter. State Street Corp now owns 3,587,004 shares of the financial services provider’s stock worth $1,030,259,000 after purchasing an additional 2,417,705 shares during the period. Geode Capital Management LLC grew its position in Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock worth $503,581,000 after purchasing an additional 1,179,788 shares during the period. Finally, SoftVest Advisors LLC grew its position in Texas Pacific Land by 200.0% in the 4th quarter. SoftVest Advisors LLC now owns 1,180,800 shares of the financial services provider’s stock worth $339,149,000 after purchasing an additional 787,200 shares during the period. Institutional investors own 59.94% of the company’s stock.

Insider Activity

In other news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $400.33, for a total transaction of $332,273.90. Following the completion of the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at $4,819,973.20. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $379.00 on Friday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm has a fifty day moving average price of $410.12 and a 200-day moving average price of $394.59. The company has a market cap of $26.14 billion, a price-to-earnings ratio of 51.92 and a beta of 0.61.

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

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. 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 payout ratio is presently 32.88%.

Analysts Set New Price Targets

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