Amundi Boosts Stock Position in Texas Pacific Land Corporation $TPL

Amundi raised its holdings in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,162 shares of the financial services provider's stock after purchasing an additional 10,376 shares during the period. Amundi owned about 0.42% of Texas Pacific Land worth $126,986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TPL. California State Teachers Retirement System increased its stake in Texas Pacific Land by 39,712.8% during the second quarter. California State Teachers Retirement System now owns 94,456,716 shares of the financial services provider's stock valued at $41,338,037,000 after purchasing an additional 94,219,464 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Texas Pacific Land by 194.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider's stock valued at $2,968,063,000 after buying an additional 6,829,070 shares during the last quarter. State Street Corp grew its position in shares of Texas Pacific Land by 206.8% during the 4th quarter. State Street Corp now owns 3,587,004 shares of the financial services provider's stock valued at $1,030,259,000 after buying an additional 2,417,705 shares during the last quarter. Geode Capital Management LLC raised its stake in Texas Pacific Land by 203.7% during the fourth quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider's stock worth $503,581,000 after acquiring an additional 1,179,788 shares during the period. Finally, SoftVest Advisors LLC lifted its holdings in Texas Pacific Land by 200.0% in the fourth quarter. SoftVest Advisors LLC now owns 1,180,800 shares of the financial services provider's stock worth $339,149,000 after acquiring an additional 787,200 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $373.34 on Thursday. The stock has a market cap of $25.75 billion, a price-to-earnings ratio of 47.58 and a beta of 0.61. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The business has a fifty day moving average of $385.14 and a 200-day moving average of $420.65.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.05. The business had revenue of $246.10 million for the quarter, compared to analysts' expectations of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. On average, equities research analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Pacific Land's dividend payout ratio is currently 30.57%.

Wall Street Analyst Weigh In

TPL has been the subject of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research upgraded Texas Pacific Land from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $639.00.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation NYSE: TPL is a land and natural resources company focused primarily on properties in the Permian Basin of West Texas. The company owns and manages a large portfolio of land and mineral interests, generating revenue from oil and gas royalties, easements, surface leases, grazing leases, and other land-use arrangements.

Texas Pacific Land also provides water-related services to customers engaged in oil and gas development. Its activities include sourcing, handling, treating, and disposing of water, as well as developing and managing water infrastructure.

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