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 business’s 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 transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Texas Pacific Land Trading Up 0.2 %

NYSE TPL opened at $1,342.44 on Wednesday. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of 68.08 and a beta of 1.69. Texas Pacific Land Co. has a twelve month low of $553.33 and a twelve month high of $1,769.14. The stock has a 50-day moving average of $1,347.30 and a 200 day moving average of $1,215.48.

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

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.60 dividend. 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 payout ratio is 32.45%.

Hedge Funds Weigh In On Texas Pacific Land

A number of large investors have recently bought and sold shares of the business. Caprock Group LLC raised its holdings in Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 8 shares during the period. Huntington National Bank raised its holdings in shares of Texas Pacific Land by 2.8% during the fourth quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 9 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Texas Pacific Land by 11.1% during the fourth quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 10 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 12 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds 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.