Texas Yale Capital Corp. Buys 4,171 Shares of Texas Pacific Land Corporation $TPL

Texas Yale Capital Corp. grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 196.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,294 shares of the financial services provider’s stock after buying an additional 4,171 shares during the period. Texas Yale Capital Corp.’s holdings in Texas Pacific Land were worth $1,808,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its stake in Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 69 shares during the period. IFP Advisors Inc lifted its holdings in 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 purchasing an additional 63 shares in the last quarter. Quarry LP bought a new position in shares of Texas Pacific Land in the third quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new position in shares of Texas Pacific Land in the fourth quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land in the third quarter worth $33,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $392.54 on Monday. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The firm’s 50 day moving average price is $434.42 and its 200-day moving average price is $390.40. The stock has a market cap of $27.07 billion, a P/E ratio of 53.77 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The firm had revenue of $236.80 million during 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%. As a group, equities analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio is 32.88%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. 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. Finally, Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.