TIAA Trust National Association Has $9.18 Million Stake in Texas Pacific Land Corporation $TPL

Key Points

• TIAA Trust National Association increased its stake in Texas Pacific Land by 193.1% in the fourth quarter, ending with 31,971 shares valued at about $9.18 million.
• Texas Pacific Land recently reported strong quarterly results, posting EPS of $2.07 versus estimates of $2.03 and revenue of $236.8 million versus expectations of $233 million.
• The company declared a quarterly dividend of $0.60 per share, equal to an annualized payout of $2.40 and a yield of about 0.6%; meanwhile, analysts currently rate the stock Hold on average with a consensus target price of $639.

TIAA Trust National Association boosted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 193.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,971 shares of the financial services provider's stock after buying an additional 21,064 shares during the quarter. TIAA Trust National Association's holdings in Texas Pacific Land were worth $9,183,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Texas Pacific Land by 39.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider's stock valued at $2,570,000 after buying an additional 545 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Texas Pacific Land by 74.1% in the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider's stock valued at $1,211,000 after buying an additional 389 shares in the last quarter. Woodline Partners LP boosted its stake in Texas Pacific Land by 40.8% in the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock valued at $2,109,000 after buying an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock valued at $72,000 after buying an additional 12 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider's stock valued at $4,812,000 after buying an additional 4,355 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $381.58 on Wednesday. The firm has a market cap of $26.32 billion, a P/E ratio of 52.27 and a beta of 0.61. The business's fifty day moving average is $415.23 and its two-hundred day moving average is $393.63. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. On average, equities research analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 currently 32.88%.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 3,170 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $400.25, for a total value of $1,268,792.50. Following the transaction, the chief financial officer owned 12,870 shares of the company's stock, valued at approximately $5,151,217.50. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TPL. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. KeyCorp boosted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Weiss Ratings raised Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Finally, Zacks Research lowered Texas Pacific Land from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $639.00.

Texas Pacific Land Company 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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