Danske Bank A S Has $40.55 Million Position in Texas Pacific Land Corporation $TPL

Key Points

• Danske Bank raised its stake in Texas Pacific Land by 150.5% in Q4 to 141,165 shares, representing a roughly $40.55 million holding (about 0.20% of the company).
• Vanguard massively increased its position to 7,556,966 shares (≈$2.17 billion), and overall institutional ownership stands at about 59.94%, signaling heavy institutional interest.
• Analysts give TPL a consensus rating of "Moderate Buy" with an average target of $639; the company recently beat EPS estimates and raised its quarterly dividend to $0.60 (annualized $2.40, ~0.6% yield).

Danske Bank A S raised its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 150.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,165 shares of the financial services provider's stock after purchasing an additional 84,820 shares during the period. Danske Bank A S owned approximately 0.20% of Texas Pacific Land worth $40,545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 192.8% in the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider's stock valued at $2,170,512,000 after buying an additional 4,975,738 shares in the last quarter. State Street Corp lifted its holdings in Texas Pacific Land by 1.9% during the third quarter. State Street Corp now owns 1,169,299 shares of the financial services provider's stock worth $1,091,704,000 after acquiring an additional 22,296 shares in the last quarter. UBS Group AG lifted its holdings in Texas Pacific Land by 232.4% during the fourth quarter. UBS Group AG now owns 456,034 shares of the financial services provider's stock worth $130,982,000 after acquiring an additional 318,842 shares in the last quarter. Invesco Ltd. grew its stake in Texas Pacific Land by 3.4% in the third quarter. Invesco Ltd. now owns 283,910 shares of the financial services provider's stock valued at $265,070,000 after acquiring an additional 9,389 shares during the period. Finally, York GP Ltd. grew its stake in Texas Pacific Land by 195.1% in the fourth quarter. York GP Ltd. now owns 270,600 shares of the financial services provider's stock valued at $77,722,000 after acquiring an additional 178,900 shares during the period. 59.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TPL has been the topic of a number of research analyst reports. Zacks Research raised Texas Pacific Land from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. Wall Street Zen upgraded Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Texas Pacific Land in a research note on Friday, March 27th. Finally, KeyCorp raised their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Texas Pacific Land has a consensus rating of "Moderate Buy" and an average target price of $639.00.

Texas Pacific Land Price Performance

TPL opened at $433.94 on Friday. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of 62.20 and a beta of 0.67. The business's 50-day moving average price is $481.54 and its two-hundred day moving average price is $377.72. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The company had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. This is an increase from Texas Pacific Land's previous quarterly dividend of $0.53. Texas Pacific Land's dividend payout ratio (DPR) is 34.38%.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 1,608 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna E. Epps acquired 895 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the transaction, the director owned 2,921 shares of the company's stock, valued at $1,491,024.45. This represents a 44.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by company insiders.

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.

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