Douglass Winthrop Advisors LLC Acquires 6,231 Shares of Texas Pacific Land Corporation $TPL

Douglass Winthrop Advisors LLC raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,011 shares of the financial services provider’s stock after purchasing an additional 6,231 shares during the quarter. Texas Pacific Land accounts for approximately 1.8% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Douglass Winthrop Advisors LLC owned approximately 0.47% of Texas Pacific Land worth $101,777,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TPL. Vanguard Group Inc. increased its stake in Texas Pacific Land by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after buying an additional 189,842 shares during the period. Epoch Investment Partners Inc. bought a new position in Texas Pacific Land in the 2nd quarter worth about $92,167,000. TD Asset Management Inc grew its stake in Texas Pacific Land by 25.7% in the 3rd quarter. TD Asset Management Inc now owns 120,852 shares of the financial services provider’s stock worth $112,832,000 after acquiring an additional 24,729 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Texas Pacific Land by 3.9% during the second quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock worth $648,866,000 after acquiring an additional 22,796 shares during the period. Finally, Pacific Heights Asset Management LLC increased its position in shares of Texas Pacific Land by 12.1% during the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock worth $172,723,000 after acquiring an additional 20,000 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

Shares of TPL opened at $524.76 on Thursday. The company has a 50 day moving average price of $400.09 and a 200-day moving average price of $338.63. Texas Pacific Land Corporation has a fifty-two week low of $269.23 and a fifty-two week high of $547.20. The stock has a market capitalization of $36.18 billion, a PE ratio of 75.22 and a beta of 0.83.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The company had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio is presently 34.38%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp boosted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen lowered Texas Pacific Land from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Finally, Zacks Research raised Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Texas Pacific Land presently has a consensus rating of “Hold” and a consensus target price of $639.00.

Insiders Place Their Bets

In related news, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. 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 business’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, for a total transaction of $456,852.75. Following the purchase, the director directly owned 2,921 shares of the company’s stock, valued at $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

Texas Pacific Land Company 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.