Erste Asset Management GmbH Has $1.24 Million Holdings in Texas Pacific Land Corporation $TPL

Erste Asset Management GmbH increased its position in Texas Pacific Land Corporation (NYSE:TPL) by 126.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,946 shares of the financial services provider’s stock after acquiring an additional 1,646 shares during the quarter. Erste Asset Management GmbH’s holdings in Texas Pacific Land were worth $1,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC boosted its holdings in Texas Pacific Land by 171.9% during the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 55 shares during the period. IFP Advisors Inc increased its stake in shares of Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares during the period. Quarry LP acquired a new position in shares of Texas Pacific Land during the 3rd quarter worth about $29,000. Los Angeles Capital Management LLC acquired a new position in shares of Texas Pacific Land during the 4th quarter worth about $31,000. Finally, Silicon Valley Capital Partners bought a new stake in Texas Pacific Land during the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TPL. Zacks Research raised Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $639.00.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the completion of the sale, the chief financial officer owned 12,040 shares in the company, valued at approximately $4,819,973.20. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.90% of the company’s stock.

Texas Pacific Land Price Performance

NYSE TPL opened at $348.13 on Friday. The company’s fifty day moving average is $389.66 and its two-hundred day moving average is $422.59. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The firm has a market capitalization of $24.01 billion, a price-to-earnings ratio of 44.37 and a beta of 0.60.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The business had revenue of $246.10 million during the quarter, compared to analyst estimates of $249.50 million. As a group, sell-side analysts expect that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 0.7%. Texas Pacific Land’s dividend payout ratio is 30.57%.

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.