Texas Pacific Land (NYSE:TPL) Rating Reiterated by BWS Financial

BWS Financial reiterated their buy rating on shares of Texas Pacific Land (NYSE:TPL) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $917.00 target price on the financial services provider’s stock.

Several other research firms have also weighed in on TPL. StockNews.com lowered Texas Pacific Land from a buy rating to a hold rating in a report on Thursday, April 4th. Stifel Nicolaus decreased their price objective on shares of Texas Pacific Land from $519.33 to $471.33 and set a hold rating for the company in a report on Tuesday, January 23rd.

Texas Pacific Land Stock Down 3.0 %

Shares of TPL opened at $605.26 on Friday. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 32.18 and a beta of 1.59. The company’s fifty day moving average is $571.12 and its 200-day moving average is $542.26. Texas Pacific Land has a 12 month low of $422.07 and a 12 month high of $666.67.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, topping the consensus estimate of $4.15 by $0.76. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. The firm had revenue of $166.66 million for the quarter, compared to the consensus estimate of $152.20 million. As a group, research analysts predict that Texas Pacific Land will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $1.17 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, June 3rd. This represents a $4.68 annualized dividend and a yield of 0.77%. Texas Pacific Land’s dividend payout ratio is presently 24.83%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver acquired 300 shares of Texas Pacific Land stock in a transaction dated Wednesday, March 13th. The stock was bought at an average cost of $540.24 per share, with a total value of $162,073.00. Following the completion of the transaction, the director now owns 393,300 shares of the company’s stock, valued at $212,477,703. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 537 shares of company stock valued at $289,687 in the last 90 days. 20.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Texas Pacific Land

Large investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in Texas Pacific Land by 60.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,263 shares of the financial services provider’s stock worth $5,937,000 after purchasing an additional 3,863 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Texas Pacific Land by 207.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,030 shares of the financial services provider’s stock worth $8,685,000 after buying an additional 10,143 shares in the last quarter. American International Group Inc. increased its stake in Texas Pacific Land by 197.1% during the first quarter. American International Group Inc. now owns 309 shares of the financial services provider’s stock valued at $179,000 after acquiring an additional 205 shares during the period. UniSuper Management Pty Ltd increased its stake in Texas Pacific Land by 200.0% during the first quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 96 shares during the period. Finally, Invesco LLC raised its holdings in Texas Pacific Land by 129.8% in the 1st quarter. Invesco LLC now owns 540 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 305 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.