WINTON GROUP Ltd Has $1.15 Million Position in Texas Pacific Land Corporation $TPL

WINTON GROUP Ltd boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 237.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,017 shares of the financial services provider’s stock after acquiring an additional 2,826 shares during the quarter. WINTON GROUP Ltd’s holdings in Texas Pacific Land were worth $1,154,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in shares of Texas Pacific Land by 261.9% during the fourth quarter. Parallel Advisors LLC now owns 684 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 495 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Texas Pacific Land by 200.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 441 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 294 shares during the last quarter. TT Capital Management LLC grew its holdings in shares of Texas Pacific Land by 174.6% during the fourth quarter. TT Capital Management LLC now owns 1,071 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 681 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Texas Pacific Land by 200.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,450 shares of the financial services provider’s stock worth $2,714,000 after purchasing an additional 6,307 shares during the last quarter. Finally, Verus Capital Partners LLC grew its holdings in shares of Texas Pacific Land by 227.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,499 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 1,735 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Down 3.7%

Shares of TPL opened at $381.58 on Wednesday. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The firm has a market capitalization of $26.32 billion, a PE ratio of 52.27 and a beta of 0.61. The stock’s fifty day simple moving average is $415.23 and its 200-day simple moving average is $393.63.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) 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 business had revenue of $236.80 million for the quarter, compared to analyst estimates of $233.00 million. Analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Dividend Announcement

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

Insider Activity

In other news, CFO Chris Steddum sold 3,170 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $400.25, for a total transaction of $1,268,792.50. Following the transaction, the chief financial officer owned 12,870 shares of the company’s stock, valued at $5,151,217.50. This represents a 19.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on TPL shares. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Zacks Research cut Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.