Mitsubishi UFJ Asset Management Co. Ltd. Has $36.55 Million Stock Holdings in Texas Pacific Land Corporation $TPL

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 225.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,658 shares of the financial services provider’s stock after purchasing an additional 84,988 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Texas Pacific Land were worth $36,548,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bar Harbor Wealth Management boosted its holdings in shares of Texas Pacific Land by 195.1% during the 4th quarter. Bar Harbor Wealth Management now owns 36,873 shares of the financial services provider’s stock valued at $10,591,000 after acquiring an additional 24,379 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Texas Pacific Land by 212.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 18,211 shares of the financial services provider’s stock valued at $5,231,000 after acquiring an additional 12,390 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Texas Pacific Land by 192.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 133,731 shares of the financial services provider’s stock valued at $38,410,000 after acquiring an additional 88,053 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Texas Pacific Land by 187.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider’s stock valued at $11,095,000 after acquiring an additional 24,629 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of Texas Pacific Land by 184.1% during the 4th quarter. New York State Teachers Retirement System now owns 38,841 shares of the financial services provider’s stock valued at $11,156,000 after acquiring an additional 25,170 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Insider Activity

In related news, Director Donna E. Epps bought 895 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $510.45 per share, with a total value of $456,852.75. Following the acquisition, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land 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 transaction, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. The trade was a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.90% of the stock is currently owned by insiders.

Texas Pacific Land Trading Down 1.2%

Shares of TPL opened at $394.49 on Friday. The company has a market capitalization of $27.21 billion, a PE ratio of 54.04 and a beta of 0.66. Texas Pacific Land Corporation has a 12 month low of $269.23 and a 12 month high of $547.20. The stock’s 50-day moving average price is $475.88 and its two-hundred day moving average price is $381.04.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.03 by $0.04. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. Equities research analysts predict that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 0.6%. Texas Pacific Land’s payout ratio is presently 34.38%.

Analyst Upgrades and Downgrades

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

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.