Danske Bank A S Buys 84,820 Shares of Texas Pacific Land Corporation $TPL

Danske Bank A S boosted its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 150.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 141,165 shares of the financial services provider’s stock after buying an additional 84,820 shares during the quarter. Danske Bank A S’s holdings in Texas Pacific Land were worth $40,545,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at approximately $29,000. CX Institutional acquired a new position in Texas Pacific Land during the third quarter worth $30,000. Silicon Valley Capital Partners bought a new stake in Texas Pacific Land during the third quarter worth $33,000. Triumph Capital Management bought a new stake in Texas Pacific Land during the third quarter worth $36,000. Finally, Versant Capital Management Inc lifted its stake in Texas Pacific Land by 75.0% in the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 18 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Price Performance

TPL stock opened at $433.94 on Friday. Texas Pacific Land Corporation has a one year low of $269.23 and a one year high of $547.20. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 62.20 and a beta of 0.67. The company has a fifty day moving average price of $481.54 and a two-hundred day moving average price of $377.72.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. The company had revenue of $211.60 million for the quarter, compared to analyst estimates of $204.00 million. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. Research analysts anticipate that Texas Pacific Land Corporation will post 9.27 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 0.6%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is currently 34.38%.

Insider Activity at Texas Pacific Land

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Friday, March 27th. KeyCorp raised their target price on shares of Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Zacks Research raised Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

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.