New Mexico Educational Retirement Board Has $775,000 Stock Holdings in Texas Pacific Land Corporation $TPL

New Mexico Educational Retirement Board boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,700 shares of the financial services provider’s stock after acquiring an additional 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Texas Pacific Land were worth $775,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TPL. Vanguard Group Inc. grew its holdings in shares of Texas Pacific Land by 192.8% in the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock valued at $2,170,512,000 after buying an additional 4,975,738 shares during the period. Geode Capital Management LLC grew its holdings in shares of Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock valued at $503,581,000 after buying an additional 1,179,788 shares during the period. Pacific Heights Asset Management LLC grew its holdings in shares of Texas Pacific Land by 235.1% in the 4th quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock valued at $178,076,000 after buying an additional 435,000 shares during the period. Schwartz Investment Counsel Inc. grew its holdings in shares of Texas Pacific Land by 209.7% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock valued at $136,459,000 after buying an additional 321,683 shares during the period. Finally, UBS Group AG grew its holdings in shares of Texas Pacific Land by 232.4% in the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock valued at $130,982,000 after buying an additional 318,842 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Zacks Research lowered shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One investment 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. According to MarketBeat, Texas Pacific Land has an average rating of “Hold” and a consensus target price of $639.00.

Texas Pacific Land Trading Up 9.8%

TPL opened at $407.22 on Thursday. The stock has a market capitalization of $28.09 billion, a P/E ratio of 55.78 and a beta of 0.61. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The firm’s fifty day simple moving average is $425.75 and its 200 day simple moving average is $391.47.

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

Texas Pacific Land Announces Dividend

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