Sumitomo Mitsui DS Asset Management Company Ltd Purchases 5,226 Shares of Texas Pacific Land Corporation $TPL

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 208.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,737 shares of the financial services provider’s stock after buying an additional 5,226 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Texas Pacific Land were worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Texas Pacific Land by 39.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock worth $2,570,000 after buying an additional 545 shares during the period. NewEdge Advisors LLC increased its position in Texas Pacific Land by 74.1% during the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider’s stock worth $1,211,000 after buying an additional 389 shares during the period. Woodline Partners LP increased its position in Texas Pacific Land by 40.8% during the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider’s stock worth $2,109,000 after buying an additional 461 shares during the period. EverSource Wealth Advisors LLC increased its position in Texas Pacific Land by 21.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock worth $72,000 after buying an additional 12 shares during the period. Finally, Marshall Wace LLP increased its position in Texas Pacific Land by 2,177.5% during the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock worth $4,812,000 after buying an additional 4,355 shares during the period. Institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

TPL has been the topic of several recent research reports. KeyCorp increased their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $394.49 on Friday. Texas Pacific Land Corporation has a 52 week low of $269.23 and a 52 week high of $547.20. The stock has a market capitalization of $27.21 billion, a P/E ratio of 54.04 and a beta of 0.66. The stock’s fifty day moving average is $475.88 and its 200 day moving average is $381.04.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping 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 company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $233.00 million. Equities research analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Donna E. Epps acquired 895 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the purchase, the director directly owned 2,921 shares of the company’s stock, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.90% of the stock is currently owned by company insiders.

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.