Texas Pacific Land (NYSE:TPL) Trading Down 5.3% - Time to Sell?

Shares of Texas Pacific Land Co. (NYSE:TPL - Get Free Report) were down 5.3% during mid-day trading on Friday . The stock traded as low as $1,323.48 and last traded at $1,298.75. Approximately 41,630 shares were traded during trading, a decline of 67% from the average daily volume of 125,647 shares. The stock had previously closed at $1,371.48.

Texas Pacific Land Stock Down 7.0 %

The firm has a market capitalization of $29.31 billion, a price-to-earnings ratio of 64.67 and a beta of 1.69. The business's fifty day moving average is $1,350.80 and its 200 day moving average is $1,226.35.

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

Texas Pacific Land Dividend Announcement

The business also recently declared 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 was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.50%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insider Buying and Selling at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction on Friday, March 14th. The shares were 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 approximately $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction 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 approximately $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 57 shares of company stock worth $75,675 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

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Institutional Trading of Texas Pacific Land

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

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.