Daiwa Securities Group Inc. increased its holdings in Texas Pacific Land Co. (NYSE:TPL – Free Report) by 31.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Texas Pacific Land were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of TPL. ProShare Advisors LLC increased its stake in Texas Pacific Land by 10.9% during the 4th quarter. ProShare Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 37 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in Texas Pacific Land during the 4th quarter valued at about $572,000. Barclays PLC increased its stake 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 in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Texas Pacific Land by 53.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 138 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 48 shares in the last quarter. Finally, Hosking Partners LLP increased its stake in Texas Pacific Land by 1.4% during the 4th quarter. Hosking Partners LLP now owns 1,936 shares of the financial services provider’s stock valued at $4,538,000 after purchasing an additional 26 shares in the last quarter. 61.47% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on TPL shares. StockNews.com started coverage on shares of Texas Pacific Land in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Stifel Nicolaus reduced their price target on shares of Texas Pacific Land from $1,378.00 to $1,371.00 and set a “hold” rating for the company in a research note on Monday, July 24th.
Texas Pacific Land Price Performance
Texas Pacific Land (NYSE:TPL – Get Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $11.24 earnings per share for the quarter, missing the consensus estimate of $13.21 by ($1.97). The firm had revenue of $146.36 million for the quarter, compared to analysts’ expectations of $154.54 million. Texas Pacific Land had a net margin of 65.28% and a return on equity of 58.62%. On average, sell-side analysts anticipate that Texas Pacific Land Co. will post 46.83 earnings per share for the current fiscal year.
Texas Pacific Land Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 8th were given a $3.25 dividend. This represents a $13.00 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Wednesday, June 7th. Texas Pacific Land’s dividend payout ratio is presently 23.06%.
Texas Pacific Land Company Profile
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages surface acres of land. This segment also holds own a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres located in the western part of Texas.
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