Bridges Investment Management Inc. Grows Stock Holdings in Texas Pacific Land Corporation $TPL

Bridges Investment Management Inc. lifted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 197.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,245 shares of the financial services provider’s stock after purchasing an additional 2,816 shares during the period. Bridges Investment Management Inc.’s holdings in Texas Pacific Land were worth $1,219,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Texas Pacific Land by 363.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Texas Pacific Land by 185.3% during the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 63 shares during the last quarter. Quarry LP purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of Texas Pacific Land during the 4th quarter worth $31,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Texas Pacific Land during the 3rd quarter worth $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

NYSE TPL opened at $407.22 on Thursday. The firm has a market cap of $28.09 billion, a PE ratio of 55.78 and a beta of 0.61. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The firm’s fifty day moving average is $425.75 and its two-hundred day moving average is $391.47.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $233.00 million. Research analysts predict that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s payout ratio is 32.88%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TPL shares. Zacks Research cut shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, KeyCorp lifted 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. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Texas Pacific Land currently has an average rating of “Hold” and an average price target of $639.00.

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.