Texas Pacific Land Co. (NYSE:TPL) VP Micheal W. Dobbs Sells 1,150 Shares

Texas Pacific Land Co. (NYSE:TPL) VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated 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 directly owns 1,393 shares in the company, valued at $1,771,227.36. This represents a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Texas Pacific Land Price Performance

TPL stock opened at $1,335.99 on Tuesday. The firm has a market capitalization of $30.71 billion, a P/E ratio of 67.75 and a beta of 1.69. The business’s 50-day moving average is $1,345.70 and its two-hundred day moving average is $1,212.14. Texas Pacific Land Co. has a 1 year low of $553.33 and a 1 year high of $1,769.14.

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

Texas Pacific Land Dividend Announcement

The company 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. The ex-dividend date was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hilltop Holdings Inc. lifted its position in Texas Pacific Land by 290.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 1,350 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Texas Pacific Land by 63.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock valued at $2,634,000 after buying an additional 1,156 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Texas Pacific Land by 5.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock worth $7,864,000 after purchasing an additional 431 shares during the last quarter. Biltmore Family Office LLC purchased a new position in Texas Pacific Land during the third quarter worth $337,000. Finally, Everence Capital Management Inc. purchased a new position in Texas Pacific Land during the fourth quarter worth $641,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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.