Asset Management One Increases Stake in Texas Pacific Land Corporation

Asset Management One Co. Ltd. has increased its stake in Texas Pacific Land Corporation (NYSE: TPL) by 1.1%, according to recent filings with the Securities and Exchange Commission. The institutional investor now holds a total of 8,180 shares of the financial services provider after acquiring an additional 92 shares during the second quarter. As of the latest SEC disclosure, Asset Management One’s holdings in Texas Pacific Land are valued at approximately $8.64 million.

Several other institutional investors have also adjusted their positions in Texas Pacific Land. Principle Wealth Partners LLC significantly boosted its stake by 28.2%, bringing its total ownership to 1,095 shares, valued at $1.16 million, following the purchase of 241 additional shares. Schwartz Investment Counsel Inc. increased its holdings by 2.1%, now owning 154,033 shares worth $162.72 million after acquiring 3,210 shares in the same quarter.

Spirit of America Management Corp NY raised its stake by 8.9%, now holding 2,455 shares valued at $2.59 million, while Chevy Chase Trust Holdings LLC increased its ownership by 0.7%, totaling 9,955 shares worth $10.52 million. Stratos Wealth Partners LTD. also raised its stake by 1.3%, now owning 5,867 shares valued at $6.20 million. Collectively, institutional investors and hedge funds own approximately 59.94% of Texas Pacific Land’s stock.

Analyst Ratings and Stock Performance

Analysts have recently provided mixed assessments of Texas Pacific Land shares. Weiss Ratings reaffirmed a “hold (c)” rating on October 14, while Tudor Pickering downgraded the stock to a “strong sell” on October 21. Currently, one analyst has given the stock a “Hold” rating, while another has issued a “Sell” rating. According to data from MarketBeat, the average analyst rating for the stock is “Reduce.”

On October 24, shares of Texas Pacific Land opened at $929.71. The company boasts a market capitalization of $21.36 billion, with a price-to-earnings ratio of 46.35 and a beta of 1.12. The stock has shown a 50-day simple moving average of $923.80 and a 200-day simple moving average of $1,058.50. Over the past year, Texas Pacific Land’s stock has experienced a low of $845.56 and a high of $1,769.14.

Texas Pacific Land last reported earnings on August 6, revealing earnings per share of $5.05, falling short of analysts’ expectations of $5.48 by $0.43. The company’s revenue for the quarter was $187.54 million, compared to the consensus estimate of $198 million. The firm reported a return on equity of 39.47% and a net margin of 62.16%.

Dividend Announcements and Insider Activity

In addition to its financial performance, Texas Pacific Land recently declared a quarterly dividend of $1.60, which was paid to shareholders on September 16. Shareholders of record as of September 2 received this payment, translating to an annualized dividend of $6.40 and a yield of 0.7%. The ex-dividend date was also September 2, and the company maintains a payout ratio of 31.90%.

In a notable insider transaction, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land on August 21 at an average price of $881.27 per share, totaling $88,127. Following this purchase, Oliver’s total holdings increased to 393,600 shares, valued at approximately $346.87 million. Insiders currently own around 6.90% of the company’s stock.

Texas Pacific Land Corporation is engaged in land and resource management, as well as water services. It holds various oil and gas royalty interests across approximately 85,000 acres of land, along with additional net royalty acres in Texas. The recent activity among institutional investors, analyst ratings, and insider transactions indicates a dynamic market environment for Texas Pacific Land, reflecting ongoing interest and investment in the company.