Global X Japan Co. Ltd. Has $1.51 Million Stake in Texas Pacific Land Corporation $TPL

Global X Japan Co. Ltd. lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 1,425.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,247 shares of the financial services provider’s stock after purchasing an additional 4,903 shares during the period. Global X Japan Co. Ltd.’s holdings in Texas Pacific Land were worth $1,507,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Texas Pacific Land by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after acquiring an additional 189,842 shares during the last quarter. State Street Corp increased its position in 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 worth $1,091,704,000 after purchasing an additional 22,296 shares during the period. Invesco Ltd. increased its position in Texas Pacific Land by 3.4% in the third quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider’s stock worth $265,070,000 after purchasing an additional 9,389 shares during the period. Pacific Heights Asset Management LLC raised its holdings in Texas Pacific Land by 12.1% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock worth $172,723,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Texas Pacific Land by 13.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider’s stock valued at $137,747,000 after purchasing an additional 17,107 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. Zacks Research raised Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. KeyCorp lifted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. 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’s stock. Based on data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Stock Down 1.5%

Shares of TPL stock opened at $522.15 on Friday. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 74.84 and a beta of 0.83. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The firm has a fifty day moving average of $449.24 and a 200-day moving average of $355.44.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The business had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is 34.38%.

Insider Activity at Texas Pacific Land

In other news, Director Donna E. Epps purchased 895 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $510.45 per share, with a total value of $456,852.75. Following the completion of the transaction, the director owned 2,921 shares of the company’s stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is owned by insiders.

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.