DekaBank Deutsche Girozentrale Raises Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

DekaBank Deutsche Girozentrale boosted its position in Texas Pacific Land Co. (NYSE:TPL) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,137 shares of the financial services provider’s stock after purchasing an additional 129 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Texas Pacific Land were worth $831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. increased its stake in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 30 shares in the last quarter. GAMMA Investing LLC grew its holdings in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 41 shares during the period. IFS Advisors LLC increased its stake in shares of Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. American National Bank purchased a new position in shares of Texas Pacific Land during the second quarter valued at approximately $42,000. Finally, Halpern Financial Inc. boosted its position in shares of Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TPL shares. BWS Financial reiterated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com lowered Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Up 3.8 %

NYSE:TPL opened at $915.66 on Friday. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $925.15. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 48.68 and a beta of 1.60. The company’s 50 day moving average price is $820.78 and its 200-day moving average price is $691.70.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period in the previous year, the business posted $4.35 EPS. As a group, sell-side analysts anticipate that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 0.51%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio is currently 24.88%.

About Texas Pacific Land

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.