Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 8,833 Shares of Texas Pacific Land Corporation $TPL

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Texas Pacific Land Corporation (NYSE:TPL) by 190.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,470 shares of the financial services provider’s stock after purchasing an additional 8,833 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Texas Pacific Land were worth $3,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TPL. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 69 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 63 shares in the last quarter. Quarry LP bought a new position in shares of Texas Pacific Land during the third quarter valued at $29,000. Eagle Bay Advisors LLC bought a new position in shares of Texas Pacific Land during the fourth quarter valued at $31,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Texas Pacific Land during the third quarter valued at $33,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $407.06 on Friday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The stock has a market capitalization of $28.07 billion, a PE ratio of 55.76 and a beta of 0.61. The business’s fifty day moving average is $423.19 and its 200 day moving average is $391.93.

Texas Pacific Land (NYSE:TPL) last released 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. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. As a group, sell-side analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday. KeyCorp raised their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings upgraded 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $639.00.

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.