Securian Asset Management Inc. Purchases Shares of 1,486 Texas Pacific Land Co. (NYSE:TPL)

Securian Asset Management Inc. acquired a new stake in Texas Pacific Land Co. (NYSE:TPL) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,486 shares of the financial services provider’s stock, valued at approximately $1,091,000.

A number of other large investors have also bought and sold shares of the stock. NEOS Investment Management LLC grew its holdings in Texas Pacific Land by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 147 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 7 shares during the period. Signaturefd LLC grew its holdings in shares of Texas Pacific Land by 30.8% during the fourth quarter. Signaturefd LLC now owns 34 shares of the financial services provider’s stock valued at $53,000 after buying an additional 8 shares during the last quarter. Balentine LLC grew its holdings in shares of Texas Pacific Land by 3.7% during the fourth quarter. Balentine LLC now owns 278 shares of the financial services provider’s stock valued at $437,000 after buying an additional 10 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Texas Pacific Land by 3.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 319 shares of the financial services provider’s stock valued at $505,000 after buying an additional 11 shares during the last quarter. Finally, Meridian Management Co. grew its holdings in shares of Texas Pacific Land by 0.8% during the fourth quarter. Meridian Management Co. now owns 1,393 shares of the financial services provider’s stock valued at $2,042,000 after buying an additional 11 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BWS Financial reissued a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday. StockNews.com lowered shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Performance

NYSE:TPL traded up $9.48 during midday trading on Monday, reaching $832.05. 40,658 shares of the stock traded hands, compared to its average volume of 107,421. The company has a fifty day moving average of $760.13 and a 200 day moving average of $627.69. The stock has a market capitalization of $19.13 billion, a P/E ratio of 44.05 and a beta of 1.63. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $854.66.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data 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). The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. During the same quarter last year, the company earned $4.35 EPS. On average, analysts predict that Texas Pacific Land Co. will post 21.2 EPS for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.56%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land’s payout ratio is 24.88%.

Texas Pacific Land Company Profile

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.