Swiss Life Asset Management Ltd Increases Stake in Texas Pacific Land Corporation $TPL

Swiss Life Asset Management Ltd increased its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 200.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,103 shares of the financial services provider’s stock after purchasing an additional 8,078 shares during the period. Swiss Life Asset Management Ltd’s holdings in Texas Pacific Land were worth $3,476,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bar Harbor Wealth Management boosted its position in Texas Pacific Land by 195.1% during the 4th quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider’s stock valued at $10,591,000 after buying an additional 24,379 shares during the period. Stratos Wealth Partners LTD. boosted its position in Texas Pacific Land by 212.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider’s stock valued at $5,231,000 after buying an additional 12,390 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Texas Pacific Land by 192.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock valued at $38,410,000 after buying an additional 88,053 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Texas Pacific Land by 187.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider’s stock valued at $11,095,000 after buying an additional 24,629 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Texas Pacific Land by 184.1% during the 4th quarter. New York State Teachers Retirement System now owns 38,841 shares of the financial services provider’s stock valued at $11,156,000 after buying an additional 25,170 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPL. KeyCorp increased their price target 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. 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. 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. Finally, Zacks Research raised shares of Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. One research 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.00.

Texas Pacific Land Trading Up 0.5%

NYSE:TPL opened at $388.39 on Friday. The company has a 50-day moving average price of $463.34 and a 200-day moving average price of $384.01. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 53.20 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $233.00 million. Equities 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 declared 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

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.