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

Texas Pacific Land Co. (NYSE:TPL - Get Free Report) VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was 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 of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Texas Pacific Land Trading Down 7.0 %

Shares of NYSE:TPL traded down $96.16 on Friday, hitting $1,275.33. 395,101 shares of the company were exchanged, compared to its average volume of 140,730. The firm has a market capitalization of $29.31 billion, a P/E ratio of 64.67 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The stock's 50 day moving average price is $1,351.26 and its 200 day moving average price is $1,217.74.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly 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 company had revenue of $185.78 million during the quarter.

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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 issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Institutional Investors Weigh In On Texas Pacific Land

Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares during the period. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the fourth quarter valued at approximately $29,000. Atala Financial Inc acquired a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $31,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $50,000. Finally, TD Waterhouse Canada Inc. grew its stake in Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 15 shares during the period. 59.94% of the stock is owned by hedge funds and other 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.