Bokf Na Grows Stake in Texas Pacific Land Corporation $TPL

Bokf Na grew its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,189 shares of the financial services provider’s stock after buying an additional 2,126 shares during the quarter. Bokf Na’s holdings in Texas Pacific Land were worth $916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TPL. Vanguard Group Inc. lifted its holdings in Texas Pacific Land by 192.8% in 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 buying an additional 4,975,738 shares during the period. UBS Group AG lifted its holdings in Texas Pacific Land by 232.4% in the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock worth $130,982,000 after buying an additional 318,842 shares during the period. York GP Ltd. raised its position in shares of Texas Pacific Land by 195.1% in 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 in the last quarter. M&T Bank Corp raised its position in shares of Texas Pacific Land by 20,072.4% in the 4th quarter. M&T Bank Corp now owns 155,529 shares of the financial services provider’s stock worth $44,671,000 after acquiring an additional 154,758 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Texas Pacific Land by 192.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock worth $38,410,000 after acquiring an additional 88,053 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director directly owned 2,921 shares in the company, valued at approximately $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is owned by company insiders.

Texas Pacific Land Stock Down 1.2%

TPL stock opened at $394.49 on Friday. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The firm has a market cap of $27.21 billion, a PE ratio of 54.04 and a beta of 0.66. The business has a 50 day moving average of $475.88 and a 200 day moving average of $381.04.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. On average, research analysts expect that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is 34.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $639.00.

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.