Nykredit A S Invests $4.62 Million in Texas Pacific Land Corporation $TPL

Key Points

• Nykredit A/S acquired 10,568 shares of Texas Pacific Land Corporation in the second quarter, valued at approximately $4.62 million. Institutional investors and hedge funds collectively own 59.94% of the company.
• Analysts have an average “Hold” rating on TPL, with a consensus price target of $639. The stock recently opened at $368.06 and has traded between $269.23 and $547.20 over the past year.
• Texas Pacific Land reported quarterly EPS of $2.23, exceeding estimates of $2.18, while revenue totaled $246.1 million. The company also pays a quarterly dividend of $0.60, representing a 0.7% annualized yield.

Nykredit A S acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,568 shares of the financial services provider's stock, valued at approximately $4,625,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LP lifted its stake in Texas Pacific Land by 3.8% during the second quarter. Corient Private Wealth LP now owns 17,523 shares of the financial services provider's stock worth $7,669,000 after purchasing an additional 648 shares during the last quarter. Principia Wealth Advisory LLC lifted its position in shares of Texas Pacific Land by 1,405.9% in the 2nd quarter. Principia Wealth Advisory LLC now owns 256 shares of the financial services provider's stock worth $112,000 after buying an additional 239 shares during the last quarter. Amundi boosted its holdings in shares of Texas Pacific Land by 3.7% in the 2nd quarter. Amundi now owns 290,162 shares of the financial services provider's stock valued at $126,986,000 after buying an additional 10,376 shares during the period. HighTower Advisors LLC grew its position in shares of Texas Pacific Land by 1.1% during the 2nd quarter. HighTower Advisors LLC now owns 101,156 shares of the financial services provider's stock valued at $44,270,000 after buying an additional 1,091 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of Texas Pacific Land by 38.6% during the 2nd quarter. Wedmont Private Capital now owns 1,313 shares of the financial services provider's stock valued at $575,000 after buying an additional 366 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TPL shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Texas Pacific Land in a report 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 analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Texas Pacific Land presently has an average rating of "Hold" and an average price target of $639.00.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $368.06 on Tuesday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The firm has a market capitalization of $25.39 billion, a price-to-earnings ratio of 46.91 and a beta of 0.61. The business has a 50 day simple moving average of $378.67 and a 200 day simple moving average of $411.87.

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

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.60 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio is 30.57%.

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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