Texas Pacific Land Co. (NYSE:TPL) VP Sells $1,462,248.00 in Stock

Texas Pacific Land Co. (NYSE:TPL) VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $1,382.86 on Thursday. Texas Pacific Land Co. has a 52-week low of $553.33 and a 52-week high of $1,769.14. The company’s 50 day moving average price is $1,349.38 and its 200-day moving average price is $1,216.65. The company has a market capitalization of $31.78 billion, a P/E ratio of 70.12 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. Texas Pacific Land’s payout ratio is 32.45%.

Institutional Investors Weigh In On Texas Pacific Land

A number of hedge funds have recently added to or reduced their stakes in TPL. Vanguard Group Inc. grew its position in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock worth $2,599,426,000 after buying an additional 260,278 shares during the period. Invesco Ltd. grew its holdings in Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock worth $331,321,000 after purchasing an additional 200,841 shares during the period. Geode Capital Management LLC increased its stake in Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock valued at $693,023,000 after purchasing an additional 159,597 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Texas Pacific Land by 943.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider’s stock valued at $133,883,000 after purchasing an additional 109,455 shares during the period. Finally, York GP Ltd. bought a new position in shares of Texas Pacific Land during the 4th quarter worth about $101,859,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Company 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.