Flputnam Investment Management Co. Has $5.94 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Flputnam Investment Management Co. increased its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 129.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,569 shares of the financial services provider’s stock after buying an additional 7,665 shares during the quarter. Flputnam Investment Management Co.’s holdings in Texas Pacific Land were worth $5,938,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $72,000 after buying an additional 12 shares during the last quarter. Sei Investments Co. increased its holdings in Texas Pacific Land by 1.1% in the third quarter. Sei Investments Co. now owns 1,909 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 20 shares during the last quarter. Larson Financial Group LLC raised its position in Texas Pacific Land by 5.4% during the third quarter. Larson Financial Group LLC now owns 410 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 21 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Texas Pacific Land by 1.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,916 shares of the financial services provider’s stock valued at $1,789,000 after acquiring an additional 24 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Texas Pacific Land by 0.5% in the third quarter. Van ECK Associates Corp now owns 4,685 shares of the financial services provider’s stock valued at $4,374,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Buying and Selling at Texas Pacific Land

In other news, CFO Chris Steddum sold 830 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $400.33, for a total value of $332,273.90. Following the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at approximately $4,819,973.20. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Stock Performance

NYSE:TPL opened at $364.29 on Monday. The firm’s 50-day moving average is $389.35 and its 200-day moving average is $424.08. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 46.43 and a beta of 0.60. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, topping the consensus estimate of $2.18 by $0.05. The firm had revenue of $246.10 million during the quarter, compared to analysts’ expectations of $249.50 million. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%. Equities analysts predict that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Texas Pacific Land’s payout ratio is currently 30.57%.

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.