Westwind Capital Grows Position in Texas Pacific Land Corporation $TPL

Westwind Capital lifted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 176.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,789 shares of the financial services provider’s stock after buying an additional 12,641 shares during the quarter. Texas Pacific Land comprises 1.2% of Westwind Capital’s 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 Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Texas Pacific Land by 363.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 69 shares in the last quarter. Quarry LP bought a new stake in shares of Texas Pacific Land during the 3rd quarter valued at $29,000. CX Institutional purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at $30,000. Silicon Valley Capital Partners bought a new position in Texas Pacific Land in the 3rd quarter worth $33,000. Finally, Triumph Capital Management purchased a new stake in Texas Pacific Land in the 3rd quarter worth $36,000. 59.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TPL has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. KeyCorp lifted their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Zacks Research raised Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Texas Pacific Land has a consensus rating of “Hold” and a consensus target price of $639.00.

Insider Buying and Selling at Texas Pacific Land

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

Texas Pacific Land Stock Up 1.6%

Shares of Texas Pacific Land stock opened at $527.70 on Tuesday. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 75.64 and a beta of 0.82. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The business has a 50-day moving average price of $437.06 and a 200-day moving average price of $351.35.

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

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land’s payout ratio is 34.38%.

Texas Pacific Land Company 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.