Verus Capital Partners LLC Has $718,000 Stock Holdings in Texas Pacific Land Corporation $TPL

Verus Capital Partners LLC boosted its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 227.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,499 shares of the financial services provider’s stock after buying an additional 1,735 shares during the quarter. Verus Capital Partners LLC’s holdings in Texas Pacific Land were worth $718,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Texas Pacific Land by 192.8% during 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. Geode Capital Management LLC lifted its holdings in shares of Texas Pacific Land by 203.7% during the fourth quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock worth $503,581,000 after buying an additional 1,179,788 shares in the last quarter. Pacific Heights Asset Management LLC lifted its holdings in shares of Texas Pacific Land by 235.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock worth $178,076,000 after buying an additional 435,000 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in Texas Pacific Land by 209.7% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock worth $136,459,000 after purchasing an additional 321,683 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Texas Pacific Land by 232.4% during the fourth quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock worth $130,982,000 after purchasing an additional 318,842 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Stock Up 0.1%

Shares of NYSE:TPL opened at $407.06 on Friday. The firm has a market cap of $28.07 billion, a P/E ratio of 55.76 and a beta of 0.61. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The business has a fifty day simple moving average of $423.19 and a 200 day simple moving average of $391.93.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results 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 return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. As a group, equities research analysts expect that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors 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 yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.88%.

Analyst Ratings Changes

Several brokerages have weighed in on TPL. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Zacks Research lowered Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research note on Monday. 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, KeyCorp upped their price target on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.