Westwind Capital Acquires Shares of 6,797 Texas Pacific Land Corporation $TPL

Key Points

• Westwind Capital has acquired 6,797 shares of Texas Pacific Land Corporation, valued at approximately $7.18 million, representing about 1.5% of their portfolio.
• Texas Pacific Land reported a quarterly earnings per share (EPS) of $5.05, missing analyst estimates, with revenue of $187.54 million for the quarter.
• The company recently declared a quarterly dividend of $1.60 per share, yielding an annual rate of 0.7%, with a payout ratio of approximately 31.9%.

Westwind Capital purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,797 shares of the financial services provider's stock, valued at approximately $7,180,000. Texas Pacific Land accounts for 1.5% of Westwind Capital's investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also recently bought and sold shares of TPL. GAMMA Investing LLC raised its position in Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Texas Pacific Land by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider's stock valued at $3,267,588,000 after purchasing an additional 115,743 shares during the last quarter. Nuveen LLC purchased a new position in shares of Texas Pacific Land in the 1st quarter valued at approximately $68,518,000. CW Advisors LLC acquired a new stake in shares of Texas Pacific Land in the 1st quarter valued at approximately $31,919,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Texas Pacific Land by 23.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider's stock valued at $120,573,000 after buying an additional 17,066 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

TPL stock traded up $5.12 during midday trading on Monday, hitting $880.22. 153,431 shares of the stock were exchanged, compared to its average volume of 138,731. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14. The stock has a market cap of $20.24 billion, a price-to-earnings ratio of 43.88 and a beta of 1.19. The stock's 50-day moving average price is $929.60 and its 200-day moving average price is $1,124.53.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%. The firm had revenue of $187.54 million for the quarter, compared to analysts' expectations of $198.00 million.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is currently 31.90%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director directly owned 393,600 shares of the company's stock, valued at approximately $346,867,872. This trade represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders acquired 210 shares of company stock worth $190,205. Company insiders own 6.50% of the company's stock.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.