Meiji Yasuda Asset Management Co Ltd. Acquires New Shares in Texas Pacific Land Co. (NYSE:TPL)

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Texas Pacific Land Co. (NYSE:TPL) 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 (NYSE:TPL) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the previous year, the business posted $4.35 EPS. As a group, equities research analysts anticipate that Texas Pacific Land Co. will post 20.14 EPS for the current year.

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.

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.