Texas Yale Capital Corp. Purchases 4,171 Shares of Texas Pacific Land Corporation $TPL

by · The Cerbat Gem

Texas Yale Capital Corp. raised its position in shares of Texas Pacific Land Corporation (NYSE:TPL – Free Report) by 196.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,294 shares of the financial services provider’s stock after purchasing an additional 4,171 shares during the quarter. Texas Yale Capital Corp.’s holdings in Texas Pacific Land were worth $1,808,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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. Geode Capital Management LLC grew its holdings in shares of Texas Pacific Land by 203.7% in the fourth quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock valued at $503,581,000 after purchasing an additional 1,179,788 shares in the last quarter. State Street Corp grew its holdings in shares of Texas Pacific Land by 1.9% in the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock valued at $1,091,704,000 after purchasing an additional 22,296 shares in the last quarter. Pacific Heights Asset Management LLC increased its position in Texas Pacific Land by 235.1% in the fourth quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock worth $178,076,000 after purchasing an additional 435,000 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. increased its position in Texas Pacific Land by 209.7% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after purchasing an additional 321,683 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TPL. 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. KeyCorp boosted their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Zacks Research upgraded shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Texas Pacific Land currently has an average rating of “Moderate Buy” and a consensus price target of $639.00.

Read Our Latest Stock Report on Texas Pacific Land

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $392.54 on Monday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm has a 50-day simple moving average of $434.42 and a two-hundred day simple moving average of $390.40. The company has a market cap of $27.07 billion, a P/E ratio of 53.77 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL – Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. As a group, equities research analysts expect that Texas Pacific Land Corporation will post 9.27 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. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a 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%.

Texas Pacific Land Profile

(Free Report)

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.

See Also

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