Rockefeller Capital Management L.P. Has $2.11 Million Stake in Texas Pacific Land Corporation $TPL

Rockefeller Capital Management L.P. boosted its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 82.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,336 shares of the financial services provider’s stock after purchasing an additional 3,312 shares during the period. Rockefeller Capital Management L.P.’s holdings in Texas Pacific Land were worth $2,107,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Texas Pacific Land by 39.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock valued at $2,570,000 after buying an additional 545 shares during the period. NewEdge Advisors LLC grew its stake 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 valued at $1,211,000 after acquiring an additional 389 shares in the last quarter. Woodline Partners LP grew its stake 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 valued at $2,109,000 after acquiring an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Texas Pacific Land by 21.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 12 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Texas Pacific Land by 2,177.5% in the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock valued at $4,812,000 after purchasing an additional 4,355 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TPL. Zacks Research cut shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $639.00.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $419.78 on Tuesday. The business’s 50-day moving average price is $398.27 and its two-hundred day moving average price is $401.38. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The company has a market capitalization of $28.95 billion, a P/E ratio of 57.50 and a beta of 0.61.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The company 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%. On average, equities analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

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

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 3,170 shares of Texas Pacific Land stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the completion of the sale, the chief financial officer directly owned 12,870 shares in the company, valued at $5,151,217.50. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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.

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.