Texas Pacific Land Corporation $TPL Shares Bought by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC grew its position in Texas Pacific Land Corporation (NYSE:TPL) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,011 shares of the financial services provider’s stock after purchasing an additional 6,231 shares during the quarter. Texas Pacific Land comprises approximately 1.8% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Douglass Winthrop Advisors LLC’s holdings in Texas Pacific Land were worth $101,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Texas Pacific Land by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after purchasing an additional 189,842 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Texas Pacific Land during the 2nd quarter valued at about $92,167,000. TD Asset Management Inc increased its position in Texas Pacific Land by 25.7% during the 3rd quarter. TD Asset Management Inc now owns 120,852 shares of the financial services provider’s stock valued at $112,832,000 after buying an additional 24,729 shares in the last quarter. Geode Capital Management LLC raised its stake in Texas Pacific Land by 3.9% in the second quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock valued at $648,866,000 after buying an additional 22,796 shares during the last quarter. Finally, Pacific Heights Asset Management LLC raised its stake in Texas Pacific Land by 12.1% in the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock valued at $172,723,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

TPL has been the topic of a number of research analyst reports. Wall Street Zen lowered Texas Pacific Land from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Zacks Research upgraded shares of Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. KeyCorp boosted their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $639.00.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were 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 in the company, valued at approximately $1,072,899. The trade was a 42.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.90% of the stock is owned by corporate insiders.

Texas Pacific Land Stock Performance

Texas Pacific Land stock opened at $524.76 on Thursday. The business’s 50-day simple moving average is $400.09 and its two-hundred day simple moving average is $338.63. The company has a market cap of $36.18 billion, a PE ratio of 75.22 and a beta of 0.83. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week 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 firm had revenue of $211.60 million during 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio (DPR) is presently 34.38%.

Texas Pacific Land Profile

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.