Texas Pacific Land (NYSE:TPL) Stock Price Up 8% - Should You Buy?

Shares of Texas Pacific Land Co. (NYSE:TPL - Get Free Report) rose 8% during mid-day trading on Monday . The company traded as high as $1,186.69 and last traded at $1,165.18. Approximately 223,008 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 150,723 shares. The stock had previously closed at $1,079.00.

Texas Pacific Land Stock Performance

The company's 50 day simple moving average is $1,321.56 and its 200 day simple moving average is $1,269.00. The stock has a market cap of $28.40 billion, a PE ratio of 62.66 and a beta of 1.44.

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 return on equity of 40.23% and a net margin of 64.32%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.52%. Texas Pacific Land's dividend payout ratio (DPR) is presently 32.45%.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now owns 3,502 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Micheal W. Dobbs sold 1,150 shares of the company's stock in a transaction that occurred on 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 sale, the vice president now owns 1,393 shares in the company, valued at $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 bought 78 shares of company stock valued at $102,694 over the last ninety days. 6.50% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On Texas Pacific Land

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Texas Pacific Land by 241,048.0% during the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after acquiring an additional 361,572 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after purchasing an additional 200,841 shares during the period. Geode Capital Management LLC increased its holdings in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after purchasing an additional 159,597 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Texas Pacific Land by 943.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock worth $133,883,000 after buying an additional 109,455 shares in the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

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.