Texas Pacific Land Corporation $TPL Shares Bought by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 20.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,532 shares of the financial services provider’s stock after acquiring an additional 2,846 shares during the period. Swiss Life Asset Management Ltd’s holdings in Texas Pacific Land were worth $7,235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 12 shares in the last quarter. Sei Investments Co. grew its position in Texas Pacific Land by 1.1% in the 3rd quarter. Sei Investments Co. now owns 1,909 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 20 shares in the last quarter. Larson Financial Group LLC increased its stake in Texas Pacific Land by 5.4% during the third quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 21 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Texas Pacific Land by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,916 shares of the financial services provider’s stock worth $1,789,000 after purchasing an additional 24 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Texas Pacific Land by 0.5% during the third quarter. Van ECK Associates Corp now owns 4,685 shares of the financial services provider’s stock worth $4,374,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TPL shares. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Texas Pacific Land currently has a consensus rating of “Hold” and an average price target of $639.00.

Insider Transactions at Texas Pacific Land

In related news, CFO Chris Steddum sold 3,170 shares of Texas Pacific Land stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the completion of the transaction, the chief financial officer owned 12,870 shares in the company, valued at $5,151,217.50. The trade was a 19.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by corporate insiders.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $348.13 on Friday. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 44.37 and a beta of 0.60. The stock’s 50-day moving average is $389.66 and its two-hundred day moving average is $422.59. 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 announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.05. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%.The business had revenue of $246.10 million during the quarter, compared to analysts’ expectations of $249.50 million. Equities research analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 (DPR) 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.