Deutsche Bank AG Buys 46,692 Shares of Texas Pacific Land Corporation $TPL

Deutsche Bank AG boosted its stake in Texas Pacific Land Corporation (NYSE:TPL) by 23.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 249,202 shares of the financial services provider’s stock after purchasing an additional 46,692 shares during the period. Deutsche Bank AG’s holdings in Texas Pacific Land were worth $109,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Texas Pacific Land by 39.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider’s stock valued at $2,570,000 after purchasing an additional 545 shares during the period. NewEdge Advisors LLC increased its stake in shares of Texas Pacific Land by 74.1% in the first quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider’s stock worth $1,211,000 after buying an additional 389 shares during the period. Woodline Partners LP increased its stake in shares of Texas Pacific Land by 40.8% in the first quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider’s stock worth $2,109,000 after buying an additional 461 shares during the period. EverSource Wealth Advisors LLC increased 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 buying an additional 12 shares during the period. Finally, Marshall Wace LLP raised its holdings in Texas Pacific Land by 2,177.5% during the 2nd quarter. Marshall Wace LLP now owns 4,555 shares of the financial services provider’s stock valued at $4,812,000 after buying an additional 4,355 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Insider Buying and Selling

In related news, CFO Chris Steddum sold 830 shares of Texas Pacific Land stock in a transaction on Monday, June 8th. The shares were sold at an average price of $400.33, for a total value of $332,273.90. Following the sale, the chief financial officer owned 12,040 shares in the company, valued at $4,819,973.20. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is owned by insiders.

Texas Pacific Land Price Performance

TPL opened at $373.12 on Thursday. The business has a 50 day simple moving average of $387.94 and a two-hundred day simple moving average of $423.04. The firm has a market capitalization of $25.73 billion, a price-to-earnings ratio of 47.55 and a beta of 0.60. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. Texas Pacific Land had a return on equity of 35.76% and a net margin of 60.32%.The firm had revenue of $246.10 million for the quarter, compared to analyst estimates of $249.50 million. As a group, sell-side analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 30.57%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TPL shares. Zacks Research raised shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Texas Pacific Land in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land presently has a consensus rating of “Hold” and an average target price of $639.00.

About Texas Pacific Land

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.