Texas Pacific Land (NYSE:TPL) Trading Up 3.3% – Time to Buy?

Texas Pacific Land Co. (NYSE:TPL) was up 3.3% on Wednesday . The company traded as high as $1,409.83 and last traded at $1,406.89. 17,656 shares changed hands during trading, a decline of 87% from the average daily volume of 140,972 shares. The stock had previously closed at $1,362.36.

Texas Pacific Land Stock Up 1.5 %

The company has a market cap of $31.78 billion, a PE ratio of 69.84 and a beta of 1.69. The firm has a 50 day simple moving average of $1,352.55 and a 200-day simple moving average of $1,234.22.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data 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 firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid 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 dividend yield of 0.46%. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Insider Activity at Texas Pacific Land

In other news, CFO Chris Steddum sold 214 shares of the business’s 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 transaction, the chief financial officer now owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. The trade was a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company’s stock, 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. In the last three months, insiders have purchased 66 shares of company stock valued at $88,062. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Texas Pacific Land

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after acquiring an additional 260,278 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock valued at $331,321,000 after purchasing an additional 200,841 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Texas Pacific Land by 34.5% during the 4th 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. Price T Rowe Associates Inc. MD increased its position in shares of Texas Pacific Land by 943.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider’s stock worth $133,883,000 after purchasing an additional 109,455 shares during the last quarter. Finally, York GP Ltd. purchased a new stake in Texas Pacific Land in the 4th quarter valued at about $101,859,000. Hedge funds and other institutional investors 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.