Nykredit A S Purchases Shares of 10,568 Texas Pacific Land Corporation $TPL

Nykredit A S bought a new stake in Texas Pacific Land Corporation (NYSE:TPL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,568 shares of the financial services provider’s stock, valued at approximately $4,625,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Texas Pacific Land by 143.0% in the 1st quarter. Bank of America Corp DE now owns 264,740 shares of the financial services provider’s stock valued at $125,635,000 after purchasing an additional 155,781 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Texas Pacific Land by 200.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,450 shares of the financial services provider’s stock worth $2,714,000 after purchasing an additional 6,307 shares during the last quarter. Schwartz Investment Counsel Inc. increased its stake in shares of Texas Pacific Land by 209.7% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after buying an additional 321,683 shares during the last quarter. Jefferies Financial Group Inc. increased its position in shares of Texas Pacific Land by 152.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 25,266 shares of the financial services provider’s stock worth $7,257,000 after purchasing an additional 15,251 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Texas Pacific Land by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 357,379 shares of the financial services provider’s stock valued at $169,598,000 after buying an additional 4,570 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

NYSE TPL opened at $362.47 on Monday. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The company’s 50 day simple moving average is $388.21 and its 200 day simple moving average is $422.29. The company has a market capitalization of $25.00 billion, a P/E ratio of 46.19 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, topping 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 analyst estimates of $249.50 million. On average, analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on TPL. Weiss Ratings restated a “hold (c+)” rating on shares of Texas Pacific Land in a research report on Wednesday, July 29th. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research 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 assigned a Sell rating to the company. According to MarketBeat.com, Texas Pacific Land currently has an average rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Company 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.