5,301 Texas Pacific Land Corporation $TPL Shares Sold by Westwind Capital

Key Points

• Westwind Capital reduced its Texas Pacific Land stake by 15.8%, selling 5,301 shares during the third quarter and retaining 28,239 shares valued at approximately $9.2 million.
• Analysts maintain a consensus “Hold” rating on TPL, with an average price target of $639; institutional investors own nearly 60% of the company.
• TPL shares traded at $358.31, while the company reported quarterly earnings of $2.23 per share—above estimates—and declared a quarterly dividend of $0.60.

Westwind Capital trimmed its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 15.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,239 shares of the financial services provider's stock after selling 5,301 shares during the quarter. Texas Pacific Land accounts for 2.2% of Westwind Capital's holdings, making the stock its 15th biggest holding. Westwind Capital's holdings in Texas Pacific Land were worth $9,201,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC acquired a new stake in Texas Pacific Land in the 2nd quarter worth about $31,000. Global Retirement Partners LLC acquired a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $41,000. IFP Advisors Inc raised its position in shares of Texas Pacific Land by 40.8% in the second quarter. IFP Advisors Inc now owns 138 shares of the financial services provider's stock valued at $60,000 after buying an additional 40 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $67,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth $83,000. Institutional investors own 59.94% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on TPL shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Texas Pacific Land in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Texas Pacific Land from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $639.00.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded up $12.52 during midday trading on Thursday, reaching $358.31. The stock had a trading volume of 323,340 shares, compared to its average volume of 442,285. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 45.66 and a beta of 0.58. The company's 50 day moving average price is $361.58 and its 200 day moving average price is $395.91. Texas Pacific Land Corporation has a twelve month low of $269.23 and a twelve month high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.05. The firm had revenue of $246.10 million during the quarter, compared to analyst estimates of $249.50 million. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%. Equities analysts forecast that Texas Pacific Land Corporation will post 8.88 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Texas Pacific Land's payout ratio is 30.57%.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation NYSE: TPL is a land and resource management company focused on properties and mineral interests in Texas. The company traces its history to the Texas and Pacific Railway, for which the Texas Pacific Land Trust was established in 1888. It was later reorganized as a corporation in 2021.

Texas Pacific Land owns more than 800,000 acres, primarily in West Texas, including substantial holdings in the Permian Basin. Its operations include managing land, granting easements and rights-of-way, and leasing acreage for uses such as oil and gas development, pipelines, power transmission, and other infrastructure.

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