Texas Pacific Land (NYSE:TPL) Trading Down 5.3% – Should You Sell?

Texas Pacific Land Co. (NYSE:TPL)’s share price fell 5.3% during trading on Friday . The company traded as low as $1,323.48 and last traded at $1,298.75. 41,630 shares were traded during trading, a decline of 67% from the average session volume of 125,647 shares. The stock had previously closed at $1,371.48.

Texas Pacific Land Price Performance

The company has a market cap of $29.31 billion, a PE ratio of 64.67 and a beta of 1.69. The business has a 50-day moving average of $1,350.80 and a 200 day moving average of $1,223.39.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $5.14 EPS 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

Insider Transactions at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was 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 in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 57 shares of company stock valued at $75,675 over the last quarter. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Texas Pacific Land

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its stake in Texas Pacific Land by 2.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,172 shares of the financial services provider’s stock valued at $13,462,000 after purchasing an additional 301 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in Texas Pacific Land during the 4th quarter valued at approximately $6,920,000. PKO Investment Management Joint Stock Co bought a new stake in Texas Pacific Land during the 4th quarter valued at approximately $697,000. Siemens Fonds Invest GmbH bought a new stake in Texas Pacific Land during the 4th quarter valued at approximately $1,924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Texas Pacific Land during the 4th quarter valued at approximately $5,720,000. Institutional investors own 59.94% of the company’s stock.

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.