Texas Pacific Land Corporation $TPL Holdings Raised by Westover Capital Advisors LLC

Westover Capital Advisors LLC grew its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,295 shares of the financial services provider’s stock after purchasing an additional 1,530 shares during the period. Westover Capital Advisors LLC’s holdings in Texas Pacific Land were worth $659,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TPL. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 during the last quarter. IFP Advisors Inc lifted its holdings in shares of Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 63 shares during the last quarter. Quarry LP purchased a new stake in shares of Texas Pacific Land during the third quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new position in Texas Pacific Land during the fourth quarter valued at $31,000. Finally, Silicon Valley Capital Partners acquired a new position in Texas Pacific Land during the third quarter valued at $33,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Trading Up 0.2%

NYSE:TPL opened at $402.89 on Monday. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of 55.19 and a beta of 0.66. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The business’s fifty day moving average price is $447.36 and its 200 day moving average price is $387.61.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.04. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Equities analysts forecast that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s dividend payout ratio is presently 32.88%.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total value of $808,824.00. Following the transaction, the chief accounting officer directly owned 2,133 shares of the company’s stock, valued at $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps bought 895 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was purchased 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 owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TPL. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. KeyCorp upped their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $639.00.

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.