Pring Turner Capital Group Inc. Has $3.92 Million Stake in Texas Pacific Land Corporation $TPL

Pring Turner Capital Group Inc. increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 208.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,629 shares of the financial services provider’s stock after acquiring an additional 9,212 shares during the period. Texas Pacific Land accounts for about 2.4% of Pring Turner Capital Group Inc.’s holdings, making the stock its 19th largest position. Pring Turner Capital Group Inc.’s holdings in Texas Pacific Land were worth $3,915,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in Texas Pacific Land by 363.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after buying an additional 69 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 63 shares during the period. Quarry LP bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Texas Pacific Land in the 4th quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $392.54 on Monday. The company has a market capitalization of $27.07 billion, a PE ratio of 53.77 and a beta of 0.61. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The business has a 50 day simple moving average of $434.42 and a 200 day simple moving average of $390.40.

Texas Pacific Land (NYSE:TPL) last posted 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 business had revenue of $236.80 million during 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 analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, KeyCorp raised 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.00.

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.