Deutsche Bank AG Cuts Stake in Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Deutsche Bank AG has reduced its stake in Texas Pacific Land Corporation by 17%, now owning approximately 0.23% of the company, valued at about $71 million.
• Texas Pacific Land reported a missed earnings estimate for the last quarter, with earnings per share at $5.05 compared to the consensus estimate of $5.48.
• The company announced a $1.60 quarterly dividend for shareholders, yielding 0.7% annually, with a payout ratio of 31.90%.

Deutsche Bank AG lowered its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 17.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,642 shares of the financial services provider's stock after selling 11,001 shares during the quarter. Deutsche Bank AG owned about 0.23% of Texas Pacific Land worth $71,075,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management grew its holdings in Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 8 shares in the last quarter. Bessemer Group Inc. raised its position 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 valued at $28,000 after purchasing an additional 13 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Texas Pacific Land by 110.0% during the 1st quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after buying an additional 11 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Texas Pacific Land by 42.1% during the 1st quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after buying an additional 8 shares during the last quarter. Finally, GW&K Investment Management LLC grew its position in shares of Texas Pacific Land by 237.5% during the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock worth $36,000 after buying an additional 19 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

TPL opened at $863.59 on Monday. Texas Pacific Land Corporation has a 12-month low of $766.51 and a 12-month high of $1,769.14. The stock has a market capitalization of $19.85 billion, a PE ratio of 43.05 and a beta of 1.14. The firm's fifty day moving average price is $1,031.57 and its 200 day moving average price is $1,216.71.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%. The company had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $1.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio (DPR) is presently 31.90%.

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.

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