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

Texas Pacific Land Stock Up 1.1 %

Shares of NYSE:TPL opened at $1,335.99 on Tuesday. The business has a fifty day simple moving average of $1,345.70 and a 200-day simple moving average of $1,212.14. Texas Pacific Land Co. has a 52 week low of $553.33 and a 52 week high of $1,769.14. The company has a market cap of $30.71 billion, a P/E ratio of 67.75 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm 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. Shareholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Texas Pacific Land by 2.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,172 shares of the financial services provider’s stock worth $13,462,000 after acquiring an additional 301 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Texas Pacific Land in the fourth quarter worth about $6,920,000. PKO Investment Management Joint Stock Co bought a new stake in Texas Pacific Land in the fourth quarter valued at about $697,000. Siemens Fonds Invest GmbH bought a new stake in Texas Pacific Land in the fourth quarter valued at about $1,924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Texas Pacific Land in the fourth quarter valued at about $5,720,000. Institutional investors and hedge funds 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.