Meridian Management Co. Purchases 5,179 Shares of Texas Pacific Land Corporation $TPL

Meridian Management Co. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 206.3% in the 4th quarter, Holdings Channel reports. The fund owned 7,690 shares of the financial services provider’s stock after buying an additional 5,179 shares during the quarter. Meridian Management Co.’s holdings in Texas Pacific Land were worth $2,209,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fielder Capital Group LLC grew its stake in shares of Texas Pacific Land by 196.0% during the 4th quarter. Fielder Capital Group LLC now owns 37,952 shares of the financial services provider’s stock worth $10,901,000 after acquiring an additional 25,132 shares during the period. Root Financial Partners LLC grew its stake in shares of Texas Pacific Land by 187.8% during the 4th quarter. Root Financial Partners LLC now owns 426 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 278 shares during the period. Arcadia Investment Management Corp MI grew its stake in shares of Texas Pacific Land by 198.2% during the 4th quarter. Arcadia Investment Management Corp MI now owns 7,965 shares of the financial services provider’s stock worth $2,288,000 after acquiring an additional 5,294 shares during the period. New Mexico Educational Retirement Board grew its stake in shares of Texas Pacific Land by 200.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 2,700 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 1,800 shares during the period. Finally, SCS Capital Management LLC lifted its holdings in Texas Pacific Land by 88.2% during the 4th quarter. SCS Capital Management LLC now owns 732 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TPL shares. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. KeyCorp increased their price objective on 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 Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Texas Pacific Land currently has an average rating of “Moderate Buy” and a consensus target price of $639.00.

Texas Pacific Land Stock Up 1.0%

Shares of NYSE TPL opened at $371.87 on Wednesday. The firm has a market capitalization of $25.65 billion, a P/E ratio of 50.94 and a beta of 0.61. The stock’s 50-day simple moving average is $431.12 and its two-hundred day simple moving average is $390.68. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its 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 business 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%. As a group, research analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The firm also recently announced 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 is Monday, June 1st. Texas Pacific Land’s dividend payout ratio is currently 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.