Deutsche Bank AG Acquires 32,778 Shares of Texas Pacific Land Co. (NYSE:TPL)

Deutsche Bank AG raised its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 102.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,643 shares of the financial services provider's stock after purchasing an additional 32,778 shares during the quarter. Deutsche Bank AG owned approximately 0.28% of Texas Pacific Land worth $71,493,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the fourth quarter valued at approximately $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the fourth quarter valued at approximately $31,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Texas Pacific Land by 45.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 15 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Texas Pacific Land by 5,700.0% in the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after purchasing an additional 57 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded up $12.02 during mid-day trading on Friday, reaching $1,429.12. The stock had a trading volume of 108,942 shares, compared to its average volume of 155,839. The company has a market capitalization of $32.85 billion, a price-to-earnings ratio of 72.47 and a beta of 1.20. Texas Pacific Land Co. has a one year low of $578.56 and a one year high of $1,769.14. The company has a 50-day moving average price of $1,301.83 and a two-hundred day moving average price of $1,318.60.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). The firm had revenue of $195.98 million for the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.45%. Texas Pacific Land's dividend payout ratio is 32.02%.

Insiders Place Their Bets

In related news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. This trade represents a 45.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 113 shares of company stock valued at $148,385. Corporate insiders own 6.50% of the company's stock.

Texas Pacific Land Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.