56,345 Shares in Texas Pacific Land Corporation $TPL Acquired by Danske Bank A S

Danske Bank A S bought a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 56,345 shares of the financial services provider’s stock, valued at approximately $52,606,000. Danske Bank A S owned 0.25% of Texas Pacific Land at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after purchasing an additional 189,842 shares in the last quarter. State Street Corp increased its stake in Texas Pacific Land by 1.9% in the 3rd quarter. State Street Corp now owns 1,169,299 shares of the financial services provider’s stock worth $1,091,704,000 after buying an additional 22,296 shares in the last quarter. Invesco Ltd. raised its holdings in Texas Pacific Land by 3.4% during 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. Pacific Heights Asset Management LLC lifted its position in shares of Texas Pacific Land by 12.1% in the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the financial services provider’s stock valued at $172,723,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Texas Pacific Land by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 184,205 shares of the financial services provider’s stock valued at $194,592,000 after acquiring an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Analyst Ratings Changes

TPL has been the subject of several research analyst reports. KeyCorp increased their target price on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday. Zacks Research upgraded Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $639.00.

Insiders Place Their Bets

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

Texas Pacific Land Price Performance

NYSE:TPL opened at $530.57 on Thursday. The company has a market cap of $36.58 billion, a price-to-earnings ratio of 76.05 and a beta of 0.83. Texas Pacific Land Corporation has a 1 year low of $269.23 and a 1 year high of $547.20. The stock’s 50 day simple moving average is $423.93 and its two-hundred day simple moving average is $346.50.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s dividend payout ratio is 34.38%.

Texas Pacific Land Company 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.