Westwind Capital Increases Stock Holdings in Texas Pacific Land Corporation $TPL

Westwind Capital boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 176.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,789 shares of the financial services provider’s stock after buying an additional 12,641 shares during the quarter. Texas Pacific Land makes up approximately 1.2% of Westwind Capital’s investment portfolio, making the stock its 23rd biggest holding. Westwind Capital’s holdings in Texas Pacific Land were worth $5,684,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Swiss National Bank increased its position in Texas Pacific Land by 7.4% during the second quarter. Swiss National Bank now owns 59,151 shares of the financial services provider’s stock valued at $62,487,000 after acquiring an additional 4,100 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Texas Pacific Land by 8.8% in the second quarter. Prudential Financial Inc. now owns 10,966 shares of the financial services provider’s stock valued at $11,584,000 after acquiring an additional 884 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Texas Pacific Land by 13.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider’s stock worth $137,747,000 after acquiring an additional 17,107 shares during the last quarter. Westerkirk Capital Inc. bought a new stake in shares of Texas Pacific Land in the 2nd quarter worth about $2,229,000. Finally, Corsicana & Co. boosted its stake in shares of Texas Pacific Land by 200.0% during the 4th quarter. Corsicana & Co. now owns 5,070 shares of the financial services provider’s stock worth $1,456,000 after purchasing an additional 3,380 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $527.70 on Tuesday. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 75.64 and a beta of 0.82. The firm has a 50-day moving average of $437.06 and a two-hundred day moving average of $351.35. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $204.00 million. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, March 2nd. Texas Pacific Land’s payout ratio is 34.38%.

Analyst Ratings Changes

A number of analysts recently weighed in on TPL shares. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. KeyCorp boosted their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Zacks Research raised Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $639.00.

Insider Activity

In other Texas Pacific Land news, Director Donna E. Epps purchased 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. The trade was a 42.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.