Nomura Asset Management Co. Ltd. Has $6.48 Million Position in Texas Pacific Land Corporation $TPL

Nomura Asset Management Co. Ltd. boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 199.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,545 shares of the financial services provider’s stock after purchasing an additional 15,012 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Texas Pacific Land were worth $6,475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. IFP Advisors Inc increased its holdings in Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares in the last quarter. Quarry LP acquired a new position in Texas Pacific Land in the 3rd quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new position in Texas Pacific Land in the 4th quarter worth about $31,000. Finally, Silicon Valley Capital Partners acquired a new position in Texas Pacific Land in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Trading Up 9.8%

Shares of TPL stock opened at $407.22 on Thursday. The stock has a market cap of $28.09 billion, a price-to-earnings ratio of 55.78 and a beta of 0.61. The stock has a 50-day moving average of $425.75 and a 200-day moving average of $391.47. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.04. The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. Sell-side analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

About Texas Pacific Land

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.