BNP Paribas Financial Markets Has $30.95 Million Stock Holdings in Texas Pacific Land Corporation $TPL

BNP Paribas Financial Markets lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 245.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,739 shares of the financial services provider’s stock after acquiring an additional 76,585 shares during the quarter. BNP Paribas Financial Markets’ holdings in Texas Pacific Land were worth $30,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 12 shares during the last quarter. Truist Financial Corp grew its holdings in Texas Pacific Land by 0.6% in the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock valued at $2,050,000 after buying an additional 14 shares during the last quarter. Jones Financial Companies Lllp increased its position in Texas Pacific Land by 9.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider’s stock worth $160,000 after buying an additional 14 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Texas Pacific Land by 2.5% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider’s stock worth $575,000 after buying an additional 15 shares during the period. Finally, Bridgewater Advisors Inc. lifted its holdings in shares of Texas Pacific Land by 7.0% during the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider’s stock worth $232,000 after buying an additional 15 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Texas Pacific Land Price Performance

NYSE:TPL opened at $407.06 on Friday. The stock has a market capitalization of $28.07 billion, a PE ratio of 55.76 and a beta of 0.61. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The business’s 50-day simple moving average is $423.19 and its 200-day simple moving average is $391.93.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is 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.