Texas Pacific Land Corporation $TPL Stock Sold by Westwind Capital

Westwind Capital reduced its position in shares of Texas Pacific Land Corporation (NYSE:TPL) by 15.8% during the third quarter, Holdings Channel reports. The firm owned 28,239 shares of the financial services provider’s stock after selling 5,301 shares during the period. Texas Pacific Land makes up 2.2% of Westwind Capital’s holdings, making the stock its 15th largest holding. Westwind Capital’s holdings in Texas Pacific Land were worth $9,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horizon Kinetics Asset Management LLC grew its position in Texas Pacific Land by 194.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 10,333,762 shares of the financial services provider’s stock valued at $2,968,063,000 after buying an additional 6,829,070 shares during the period. State Street Corp boosted its position in shares of Texas Pacific Land by 4.8% in the second quarter. State Street Corp now owns 3,964,748 shares of the financial services provider’s stock valued at $1,735,132,000 after acquiring an additional 179,791 shares during the period. First Manhattan CO. LLC. increased its stake in Texas Pacific Land by 200.1% in the 4th quarter. First Manhattan CO. LLC. now owns 1,013,363 shares of the financial services provider’s stock worth $291,058,000 after acquiring an additional 675,682 shares during the last quarter. Pacific Heights Asset Management LLC bought a new stake in shares of Texas Pacific Land during the 2nd quarter worth $258,208,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Texas Pacific Land by 6.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 477,430 shares of the financial services provider’s stock valued at $208,942,000 after acquiring an additional 30,911 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 3.6%

Texas Pacific Land stock traded up $12.52 during mid-day trading on Thursday, hitting $358.31. The stock had a trading volume of 323,340 shares, compared to its average volume of 442,285. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The firm’s 50 day moving average is $361.58 and its 200 day moving average is $395.91. The firm has a market capitalization of $24.71 billion, a P/E ratio of 45.66 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%.The company had revenue of $246.10 million for the quarter, compared to analysts’ expectations of $249.50 million. As a group, equities research analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Texas Pacific Land’s payout ratio is currently 30.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TPL shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties and mineral interests in Texas. The company traces its history to the Texas and Pacific Railway, for which the Texas Pacific Land Trust was established in 1888. It was later reorganized as a corporation in 2021.

Texas Pacific Land owns more than 800,000 acres, primarily in West Texas, including substantial holdings in the Permian Basin. Its operations include managing land, granting easements and rights-of-way, and leasing acreage for uses such as oil and gas development, pipelines, power transmission, and other infrastructure.