Texas Pacific Land (NYSE:TPL) Trading Down 5.3% – Should You Sell?

Texas Pacific Land Co. (NYSE:TPL) traded down 5.3% on Friday . The stock traded as low as $1,323.48 and last traded at $1,298.75. 41,630 shares traded hands during trading, a decline of 67% from the average session volume of 125,647 shares. The stock had previously closed at $1,371.48.

Texas Pacific Land Stock Performance

The firm has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. The firm has a fifty day simple moving average of $1,350.80 and a two-hundred day simple moving average of $1,223.39.

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

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the sale, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. The trade was a 5.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction 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 sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 57 shares of company stock valued at $75,675. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Caprock Group LLC raised its position in shares of Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 8 shares in the last quarter. Huntington National Bank raised its position in shares of Texas Pacific Land by 2.8% in the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 9 shares in the last quarter. Signaturefd LLC raised its position in shares of Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Pacific Land by 21.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after buying an additional 12 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Texas Pacific Land by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after buying an additional 13 shares during the last quarter. 59.94% of the stock is owned by institutional investors.

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.