Westover Capital Advisors LLC Has $659,000 Holdings in Texas Pacific Land Corporation $TPL

Westover Capital Advisors LLC increased its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,295 shares of the financial services provider’s stock after acquiring 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 filing with the SEC.

A number of other hedge funds have also made changes to their positions in TPL. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 192.8% during the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock valued at $2,170,512,000 after acquiring an additional 4,975,738 shares during the last quarter. Pacific Heights Asset Management LLC increased its holdings in shares of Texas Pacific Land by 235.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock valued at $178,076,000 after acquiring an additional 435,000 shares during the last quarter. Schwartz Investment Counsel Inc. increased its holdings in shares of Texas Pacific Land by 209.7% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock valued at $136,459,000 after acquiring an additional 321,683 shares during the last quarter. UBS Group AG increased its holdings in shares of Texas Pacific Land by 232.4% during the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock valued at $130,982,000 after acquiring an additional 318,842 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Texas Pacific Land by 209.6% during the 4th quarter. Legal & General Group Plc now owns 399,676 shares of the financial services provider’s stock valued at $114,795,000 after acquiring an additional 270,583 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 0.2%

Shares of NYSE:TPL opened at $402.89 on Monday. The business has a 50 day moving average price of $447.36 and a 200 day moving average price of $387.61. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20. The company has a market cap of $27.79 billion, a price-to-earnings ratio of 55.19 and a beta of 0.66.

Texas Pacific Land (NYSE:TPL) last announced its 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 during the quarter, compared to the consensus estimate of $233.00 million. Analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current year.

Texas Pacific Land Announces Dividend

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

Insider Activity at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 1,608 shares of the 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 owned 2,133 shares in the company, valued at $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donna E. Epps bought 895 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $510.45 per share, with a total value of $456,852.75. Following the purchase, the director owned 2,921 shares in the company, valued at $1,491,024.45. This trade represents a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TPL. Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, KeyCorp increased 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $639.00.

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.