Deutsche Bank AG Raises Stock Holdings in Texas Pacific Land Corporation $TPL

Key Points

• Deutsche Bank increased its Texas Pacific Land stake by 23.1% in the second quarter, adding 46,692 shares to own 249,202 shares worth approximately $109.1 million. Institutional investors collectively hold 59.94% of TPL.
• Analysts maintain a consensus “Hold” rating with a $639 price target, while TPL recently traded at $373.12, well below its 52-week high of $547.20.
• Texas Pacific Land reported quarterly EPS of $2.23, exceeding estimates, and declared a quarterly dividend of $0.60 per share, equivalent to a 0.6% annualized yield.

Deutsche Bank AG increased its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 23.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,202 shares of the financial services provider's stock after purchasing an additional 46,692 shares during the period. Deutsche Bank AG owned approximately 0.36% of Texas Pacific Land worth $109,061,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Texas Pacific Land by 39.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,940 shares of the financial services provider's stock worth $2,570,000 after buying an additional 545 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Texas Pacific Land by 74.1% during the 1st quarter. NewEdge Advisors LLC now owns 914 shares of the financial services provider's stock valued at $1,211,000 after buying an additional 389 shares in the last quarter. Woodline Partners LP raised its position in shares of Texas Pacific Land by 40.8% during the 1st quarter. Woodline Partners LP now owns 1,592 shares of the financial services provider's stock valued at $2,109,000 after buying an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Texas Pacific Land by 21.4% during the 2nd 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. Finally, Marshall Wace LLP lifted its holdings in shares of 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 worth $4,812,000 after acquiring an additional 4,355 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TPL. Weiss Ratings reiterated a "hold (c+)" rating on shares of Texas Pacific Land in a research report on Wednesday, July 29th. Zacks Research upgraded Texas Pacific Land from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $639.00.

Texas Pacific Land Price Performance

Shares of TPL opened at $373.12 on Thursday. The firm has a market cap of $25.73 billion, a P/E ratio of 47.55 and a beta of 0.60. The stock has a 50 day simple moving average of $387.94 and a two-hundred day simple moving average of $423.04. 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 results on Wednesday, August 5th. The financial services provider reported $2.23 EPS for the quarter, topping the consensus estimate of $2.18 by $0.05. The firm had revenue of $246.10 million for the quarter, compared to the consensus estimate of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. On average, equities analysts anticipate that Texas Pacific Land Corporation will post 8.88 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

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

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 3,170 shares of Texas Pacific Land stock in a transaction on Friday, June 5th. The shares were sold at an average price of $400.25, for a total value of $1,268,792.50. Following the transaction, the chief financial officer owned 12,870 shares in the company, valued at $5,151,217.50. This trade represents a 19.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.90% of the company's stock.

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.

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