Westerkirk Capital Inc. boosted its position in Texas Pacific Land Corporation (NYSE:TPL – Free Report) by 379.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,111 shares of the financial services provider’s stock after purchasing an additional 8,001 shares during the period. Westerkirk Capital Inc.’s holdings in Texas Pacific Land were worth $2,904,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. BLI Banque de Luxembourg Investments increased its stake in shares of Texas Pacific Land by 245.1% in the fourth quarter. BLI Banque de Luxembourg Investments now owns 45,900 shares of the financial services provider’s stock valued at $13,447,000 after buying an additional 32,600 shares during the period. X Square Capital LLC increased its stake in shares of Texas Pacific Land by 208.2% in the fourth quarter. X Square Capital LLC now owns 4,602 shares of the financial services provider’s stock valued at $1,322,000 after buying an additional 3,109 shares during the period. TIAA Trust National Association increased its stake in shares of Texas Pacific Land by 193.1% in the fourth quarter. TIAA Trust National Association now owns 31,971 shares of the financial services provider’s stock valued at $9,183,000 after buying an additional 21,064 shares during the period. Cerity Partners LLC increased its stake in shares of Texas Pacific Land by 207.0% in the fourth quarter. Cerity Partners LLC now owns 37,229 shares of the financial services provider’s stock valued at $10,693,000 after buying an additional 25,101 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Texas Pacific Land by 212.7% in the fourth quarter. LPL Financial LLC now owns 50,838 shares of the financial services provider’s stock valued at $14,602,000 after buying an additional 34,582 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.
Texas Pacific Land Stock Performance
Shares of NYSE:TPL opened at $397.28 on Tuesday. The business’s 50 day simple moving average is $417.86 and its two-hundred day simple moving average is $393.07. The firm has a market cap of $27.40 billion, a P/E ratio of 54.42 and a beta of 0.61. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20.
Texas Pacific Land Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.88%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on TPL. KeyCorp increased their price target 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. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Texas Pacific Land presently has a consensus rating of “Hold” and a consensus price target of $639.00.
Get Our Latest Report on Texas Pacific Land
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.
Featured Articles
- Five stocks we like better than Texas Pacific Land
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Receive News & Ratings for Texas Pacific Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Pacific Land and related companies with MarketBeat.com's FREE daily email newsletter.
