Swiss Life Asset Management Ltd Boosts Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Swiss Life Asset Management increased its stake in Texas Pacific Land by 200.7% in the fourth quarter, ending with 12,103 shares worth about $3.48 million.
• Several other institutional investors also boosted holdings, including Vanguard and UBS, and institutions now own 59.94% of the company.
• Texas Pacific Land reported better-than-expected quarterly earnings of $2.07 per share, and analysts currently see the stock as a Moderate Buy with a consensus target price of $639.

Swiss Life Asset Management Ltd boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,103 shares of the financial services provider's stock after acquiring an additional 8,078 shares during the period. Swiss Life Asset Management Ltd's holdings in Texas Pacific Land were worth $3,476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Texas Pacific Land by 192.8% during the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider's stock worth $2,170,512,000 after acquiring an additional 4,975,738 shares during the period. State Street Corp increased its holdings in Texas Pacific Land by 1.9% during the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider's stock worth $1,091,704,000 after acquiring an additional 22,296 shares during the period. UBS Group AG increased its holdings in Texas Pacific Land by 232.4% during the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider's stock worth $130,982,000 after acquiring an additional 318,842 shares during the period. Invesco Ltd. increased its holdings in Texas Pacific Land by 3.4% during the 3rd quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider's stock worth $265,070,000 after acquiring an additional 9,389 shares during the period. Finally, York GP Ltd. increased its holdings in Texas Pacific Land by 195.1% during the 4th quarter. York GP Ltd. now owns 270,600 shares of the financial services provider's stock worth $77,722,000 after acquiring an additional 178,900 shares during the period. Institutional investors own 59.94% of the company's stock.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 1,608 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the sale, the chief accounting officer owned 2,133 shares of the company's stock, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donna E. Epps acquired 895 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director directly owned 2,921 shares in the company, valued at $1,491,024.45. This represents a 44.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TPL shares. Wall Street Zen raised shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Weiss Ratings raised shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 1st. KeyCorp upped their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Finally, Zacks Research raised shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $639.00.

Texas Pacific Land Price Performance

TPL stock opened at $388.39 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 cap of $26.79 billion, a PE ratio of 53.20 and a beta of 0.66. The firm has a 50 day simple moving average of $463.34 and a two-hundred day simple moving average of $384.01.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid 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 is Monday, June 1st. Texas Pacific Land's payout ratio is currently 32.88%.

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.

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