Texas Pacific Land Corporation $TPL Shares Purchased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,919 shares of the financial services provider’s stock after acquiring an additional 1,946 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Texas Pacific Land were worth $838,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Texas Pacific Land by 21.4% in the second 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 period. Truist Financial Corp increased its stake in Texas Pacific Land by 0.6% during the 3rd quarter. Truist Financial Corp now owns 2,195 shares of the financial services provider’s stock worth $2,050,000 after buying an additional 14 shares during the period. Jones Financial Companies Lllp increased its stake in Texas Pacific Land by 9.1% during 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 lifted its holdings in Texas Pacific Land by 2.5% during 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 in the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in Texas Pacific Land by 7.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider’s stock valued at $232,000 after buying an additional 15 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TPL shares. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. KeyCorp boosted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $639.00.

Texas Pacific Land Stock Down 2.2%

NYSE TPL opened at $392.54 on Friday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The firm has a 50 day moving average of $434.42 and a two-hundred day moving average of $389.99. The stock has a market capitalization of $27.07 billion, a PE ratio of 53.77 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating 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, equities research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.88%.

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.