Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 724 shares of the financial services provider’s stock, valued at approximately $532,000.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 199.8% during the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after acquiring an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Texas Pacific Land by 74.2% during the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Pacific Heights Asset Management LLC raised its position in shares of Texas Pacific Land by 200.0% in the first quarter. Pacific Heights Asset Management LLC now owns 165,000 shares of the financial services provider’s stock valued at $95,454,000 after purchasing an additional 110,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock worth $92,632,000 after buying an additional 9,878 shares during the last quarter. Finally, Mad River Investors boosted its holdings in shares of Texas Pacific Land by 199.2% during the 1st quarter. Mad River Investors now owns 100,121 shares of the financial services provider’s stock worth $57,921,000 after buying an additional 66,663 shares during the period. 59.94% of the stock is currently owned by institutional investors.
Texas Pacific Land Price Performance
NYSE:TPL opened at $935.40 on Friday. The stock has a market cap of $21.50 billion, a P/E ratio of 49.73 and a beta of 1.60. The company has a fifty day moving average price of $823.41 and a 200 day moving average price of $693.25. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $941.63.
Texas Pacific Land Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is presently 24.88%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on TPL shares. BWS Financial reissued a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.
Check Out Our Latest Analysis on Texas Pacific Land
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.
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