Texas Pacific Land Corporation $TPL Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management increased its stake in Texas Pacific Land by 200.9% in the fourth quarter, ending with 3,891 shares valued at about $1.12 million.
• Texas Pacific Land had mixed insider activity: CAO Stephanie Buffington sold 1,608 shares, while Director Donna E. Epps bought 895 shares, and insiders currently own 6.9% of the stock.
• The company reported better-than-expected earnings of $2.07 per share and raised a quarterly dividend of $0.60 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $639.

Meiji Yasuda Asset Management Co Ltd. lifted its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 200.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,891 shares of the financial services provider's stock after purchasing an additional 2,598 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Texas Pacific Land were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $29,000. Silicon Valley Capital Partners acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $33,000. Triumph Capital Management acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $36,000. IMA Advisory Services Inc. lifted its stake in shares of Texas Pacific Land by 77.8% in the 3rd quarter. IMA Advisory Services Inc. now owns 48 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 21 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $46,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total transaction of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. The trade was a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company's stock, valued at $1,491,024.45. The trade was a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. KeyCorp upped their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Zacks Research upgraded shares of Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $639.00.

Texas Pacific Land Trading Up 1.5%

TPL opened at $402.89 on Friday. The firm has a market capitalization of $27.79 billion, a PE ratio of 55.19 and a beta of 0.66. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The firm's 50-day moving average price is $447.36 and its 200 day moving average price is $387.06.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly 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 for 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, analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently declared 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 is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land's payout ratio is presently 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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