Epoch Investment Partners Inc. Has $157.14 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Epoch Investment Partners Inc. trimmed its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 331,137 shares of the financial services provider’s stock after selling 50,548 shares during the quarter. Texas Pacific Land comprises approximately 1.0% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 21st biggest position. Epoch Investment Partners Inc.’s holdings in Texas Pacific Land were worth $157,144,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TPL. Summit Securities Group LLC lifted its stake in shares of Texas Pacific Land by 171.9% during the 4th quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock worth $25,000 after buying an additional 55 shares during the last quarter. IFP Advisors Inc grew its stake in Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after buying an additional 63 shares during the last quarter. Quarry LP bought a new position in Texas Pacific Land in the 3rd quarter valued at about $29,000. Eagle Bay Advisors LLC bought a new position in Texas Pacific Land in the 4th quarter valued at about $31,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Texas Pacific Land during the fourth quarter worth approximately $31,000. 59.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TPL shares. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research cut Texas Pacific Land from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $639.00.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 3,170 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $400.25, for a total transaction of $1,268,792.50. Following the completion of the sale, the chief financial officer directly owned 12,870 shares in the company, valued at approximately $5,151,217.50. This represents a 19.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Down 1.4%

NYSE TPL opened at $419.46 on Friday. The firm has a 50-day moving average price of $395.25 and a two-hundred day moving average price of $416.54. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The company has a market capitalization of $28.93 billion, a P/E ratio of 57.46 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate 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 company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. Equities analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is 32.88%.

About Texas Pacific Land

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.