Bokf Na Acquires Shares of 426 Texas Pacific Land Co. (NYSE:TPL)

Posted by Defense World Staff on Jun 11th, 2023

Bokf Na bought a new position in Texas Pacific Land Co. (NYSE:TPL – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 426 shares of the financial services provider’s stock, valued at approximately $999,000.

Other hedge funds also recently made changes to their positions in the company. Panagora Asset Management Inc. bought a new position in Texas Pacific Land during the 4th quarter valued at approximately $1,233,000. Natixis purchased a new stake in Texas Pacific Land in the fourth quarter worth $5,861,000. Seeyond boosted its holdings in Texas Pacific Land by 232.5% in the fourth quarter. Seeyond now owns 818 shares of the financial services provider’s stock valued at $1,918,000 after acquiring an additional 572 shares in the last quarter. Barclays PLC increased its position in Texas Pacific Land by 13.0% during the 4th quarter. Barclays PLC now owns 4,856 shares of the financial services provider’s stock valued at $11,385,000 after purchasing an additional 559 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Texas Pacific Land by 31.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 434 shares of the financial services provider’s stock worth $1,017,000 after purchasing an additional 105 shares during the period. 58.95% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Down 1.2 %

NYSE TPL opened at $1,392.94 on Friday. Texas Pacific Land Co. has a twelve month low of $1,275.86 and a twelve month high of $2,739.00. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 24.71 and a beta of 1.85. The business has a 50-day moving average price of $1,480.47 and a 200-day moving average price of $1,864.71.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 8th will be paid a dividend of $3.25 per share. The ex-dividend date is Wednesday, June 7th. This represents a $13.00 annualized dividend and a yield of 0.93%. Texas Pacific Land’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

TPL has been the topic of several research reports. StockNews.com initiated coverage on Texas Pacific Land in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus dropped their price target on Texas Pacific Land from $1,399.00 to $1,378.00 in a research note on Monday, May 22nd. Finally, 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of Texas Pacific Land in a research report on Monday, May 22nd.

Texas Pacific Land Profile

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Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.