Texas Pacific Land Co. (NYSE:TPL) CFO Chris Steddum Sells 214 Shares

Texas Pacific Land Co. (NYSE:TPL) CFO Chris Steddum sold 214 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded up $14.92 on Monday, hitting $1,335.99. The company’s stock had a trading volume of 81,503 shares, compared to its average volume of 139,131. Texas Pacific Land Co. has a 12 month low of $553.33 and a 12 month high of $1,769.14. The stock’s 50-day moving average is $1,345.70 and its two-hundred day moving average is $1,212.14. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 67.75 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 EPS for the quarter. The firm had revenue of $185.78 million for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land’s payout ratio is 32.45%.

Institutional Investors Weigh In On Texas Pacific Land

Institutional investors have recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of Texas Pacific Land by 41.4% in the third quarter. KBC Group NV now owns 1,455 shares of the financial services provider’s stock valued at $1,288,000 after buying an additional 426 shares during the period. Metis Global Partners LLC acquired a new stake in Texas Pacific Land in the 3rd quarter valued at about $219,000. CIBC Asset Management Inc boosted its position in shares of Texas Pacific Land by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider’s stock valued at $705,000 after purchasing an additional 41 shares in the last quarter. RiverPark Advisors LLC grew its stake in shares of Texas Pacific Land by 6.8% in the 3rd quarter. RiverPark Advisors LLC now owns 787 shares of the financial services provider’s stock worth $696,000 after purchasing an additional 50 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its holdings in shares of Texas Pacific Land by 114.6% in the 3rd quarter. Gilbert & Cook Inc. now owns 3,966 shares of the financial services provider’s stock worth $3,509,000 after purchasing an additional 2,118 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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.