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

Key Points

• WINTON GROUP Ltd increased its Texas Pacific Land stake by 237.3% in the fourth quarter, ending with 4,017 shares worth about $1.15 million.
• Texas Pacific Land reported quarterly EPS of $2.07, topping estimates, while revenue came in at $236.8 million, also slightly above expectations.
• The company declared a quarterly dividend of $0.60 per share, payable June 15, and CFO Chris Steddum recently sold 3,170 shares in a Rule 10b5-1 transaction.

WINTON GROUP Ltd lifted its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 237.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,017 shares of the financial services provider's stock after acquiring an additional 2,826 shares during the period. WINTON GROUP Ltd's holdings in Texas Pacific Land were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Texas Pacific Land by 21.4% in the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider's stock worth $72,000 after acquiring an additional 12 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Texas Pacific Land by 9.1% in the third quarter. Jones Financial Companies Lllp now owns 168 shares of the financial services provider's stock worth $160,000 after acquiring an additional 14 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Texas Pacific Land by 2.5% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 616 shares of the financial services provider's stock worth $575,000 after acquiring an additional 15 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in shares of Texas Pacific Land by 7.0% in the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the financial services provider's stock worth $232,000 after acquiring an additional 15 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in Texas Pacific Land by 1.6% in the third quarter. Aptus Capital Advisors LLC now owns 969 shares of the financial services provider's stock worth $905,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $381.58 on Wednesday. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 52.27 and a beta of 0.61. The firm has a fifty day moving average of $415.23 and a 200-day moving average of $393.63.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The company had revenue of $236.80 million during the quarter, compared to analysts' expectations of $233.00 million. On average, sell-side analysts predict that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 yield of 0.6%. The ex-dividend date is Monday, June 1st. Texas Pacific Land's dividend payout ratio is currently 32.88%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 3,170 shares of the 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 completion of the transaction, the chief financial officer directly owned 12,870 shares in the company, valued at $5,151,217.50. This represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TPL has been the subject of several research reports. Wall Street Zen raised Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Weiss Ratings upgraded shares of Texas Pacific Land from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 1st. Zacks Research cut shares of Texas Pacific Land from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Finally, KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Texas Pacific Land currently has a consensus rating of "Hold" and a consensus target price of $639.00.

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.

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