Hightower Advisors LLC increased its stake in Texas Pacific Land (NYSE: TPL – Rated) by 5.6% in the fourth quarter, according to its latest Form 13F filed with the SEC. The company held 10,413 shares in the financial services provider after purchasing an additional 552 shares during the period. Hightower Advisors LLC owned approximately 0.14% of Texas Pacific Land worth $24.39 million at the time of the latest SEC filing.
Several other large investors have also recently added or removed stakes in TPL. Wipfli Financial Advisors LLC purchased approximately $27,000 worth of new shares in Texas Pacific Land during the third quarter. VitalStone Financial LLC purchased approximately $30,000 worth of new shares in Texas Pacific Land during the fourth quarter. Pacer Advisors purchased new shares of Texas Pacific Land in the fourth quarter for a value of about $33,000. Fred Alger Management LLC purchased approximately $41,000 worth of new shares in Texas Pacific Land during the third quarter. Finally, Citizens National Bank Trust Division purchased new shares in Texas Pacific Land for the equivalent of approximately $44,000 during the third quarter. Institutional investors own 58.95% of the company’s shares.
Analyst upgrades and downgrades
TPL has been the subject of several research analyst reports. StockNews.com began reporting on Texas Pacific Land in a research note on Thursday, March 16th. They set a “Hold” rating on the company. Stifel Nicolaus raised his Texas Pacific Land price target price from his $1,396.00 to his $1,399.00 in a report on Thursday, April 27.
Texas Pacific land deals up 0.1%
TPL opened at $1,365.80 on Friday. The company has a market cap of $10.51 billion, a P/E of 24.23x and a beta of 1.87x. His 50-day moving average price for this company is $1,616.82 and his 200-day moving average price is $2,028.97. Texas Pacific Land Corp hit a 12-month low of $1,317.37 and a 12-month high of $2,739.00.
Texas Pacific Land (NYSE:TPL – Get Rating) last released quarterly earnings data on Wednesday, February 22nd. Financial services providers reported EPS of $12.94 for the quarter, well below consensus expectations of $15.14 ($2.20). The company’s revenue for the quarter was $152.71 million, compared with analysts’ expectations of $171.71 million. Equity research analysts expect Texas Pacific Land to post earnings per share of $54.93 this fiscal year.
Texas Pacific Land Announces Dividend
The company also recently announced a quarterly dividend to be paid on Thursday, June 15. A registered investor on Thursday, June 8 will be issued his $3.25 dividend per share. The ex-dividend date for this dividend will be June 7 (Wednesday). This equates to his $13.00 dividend and his 0.95% yield on an annualized basis. Texas Pacific Land’s payout ratio is currently 23.06%.
About Texas Pacific Land
The Texas Pacific Land Corporation is operated by Texas landlords. Surface rights and royalty ownership across the entire oil and gas development value chain, including paying a fixed rate for company land use fees, revenue from sales of materials used in infrastructure construction, and providing raw and treated product water. can generate revenue through , income from oil and gas royalty interests, and income related to land-based brine disposal.
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