Insider Selling: Texas Pacific Land Co. (NYSE:TPL) VP Sells 1,150 Shares of Stock

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 transaction 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. The trade was a 45.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Texas Pacific Land Trading Up 2.9 %

Texas Pacific Land stock opened at $1,382.86 on Thursday. The firm’s fifty day moving average price is $1,349.38 and its two-hundred day moving average price is $1,216.65. The firm has a market capitalization of $31.78 billion, a price-to-earnings ratio of 70.12 and a beta of 1.69. Texas Pacific Land Co. has a 1-year low of $553.33 and a 1-year high of $1,769.14.

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 (EPS) for the quarter. The business 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 Announces Dividend

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 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 32.45%.

Hedge Funds Weigh In On Texas Pacific Land

A number of hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Assetmark Inc. bought a new position in shares of Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land in the 4th quarter worth approximately $31,000. TD Waterhouse Canada Inc. grew its holdings in shares of Texas Pacific Land by 45.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 15 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $50,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

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.