Hsbc Holdings PLC Has $25.59 Million Position in Texas Pacific Land Corporation $TPL

Hsbc Holdings PLC lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 209.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 89,071 shares of the financial services provider’s stock after buying an additional 60,329 shares during the period. Hsbc Holdings PLC’s holdings in Texas Pacific Land were worth $25,594,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TPL. EverSource Wealth Advisors LLC raised its position in Texas Pacific Land by 21.4% during 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 in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Texas Pacific Land by 1.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 15 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Texas Pacific Land by 1.6% in the 3rd quarter. Intech Investment Management LLC now owns 1,031 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 16 shares in the last quarter. Sei Investments Co. increased its stake in shares of 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 purchasing an additional 20 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Texas Pacific Land by 5.4% in the 3rd quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 3,170 shares of the stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 12,870 shares in the company, valued at approximately $5,151,217.50. This trade represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $378.01 on Thursday. The company’s 50 day moving average price is $399.22 and its two-hundred day moving average price is $399.22. The firm has a market capitalization of $26.07 billion, a P/E ratio of 51.78 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.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. On average, analysts expect 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 announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPL. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $639.00.

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.