Pring Turner Capital Group Inc. Has $3.92 Million Stake in Texas Pacific Land Corporation $TPL

Pring Turner Capital Group Inc. boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 208.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,629 shares of the financial services provider’s stock after purchasing an additional 9,212 shares during the period. Texas Pacific Land accounts for approximately 2.4% of Pring Turner Capital Group Inc.’s holdings, making the stock its 19th largest holding. Pring Turner Capital Group Inc.’s holdings in Texas Pacific Land were worth $3,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $29,000. Silicon Valley Capital Partners acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $33,000. Triumph Capital Management acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $36,000. IMA Advisory Services Inc. increased its holdings in Texas Pacific Land by 77.8% during the 3rd quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 21 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Texas Pacific Land during the 3rd quarter valued at $46,000. 59.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPL has been the subject of a number of recent analyst reports. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Finally, KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Stock Performance

NYSE TPL opened at $392.54 on Monday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The stock has a fifty day moving average of $434.42 and a 200-day moving average of $390.40. The stock has a market capitalization of $27.07 billion, a P/E ratio of 53.77 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last issued its quarterly 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 company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. Equities research analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share 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. Stockholders of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s payout ratio is currently 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.