Micheal W. Dobbs Sells 1,150 Shares of Texas Pacific Land Co. (NYSE:TPL) Stock

Texas Pacific Land Co. (NYSE:TPL) VP Micheal W. Dobbs sold 1,150 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded up $14.92 during midday trading on Monday, reaching $1,335.99. 81,503 shares of the company’s stock traded hands, compared to its average volume of 139,131. The stock has a 50 day moving average of $1,345.70 and a 200-day moving average of $1,212.14. The company has a market cap of $30.71 billion, a PE ratio of 67.75 and a beta of 1.69. Texas Pacific Land Co. has a 12 month low of $553.33 and a 12 month high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a yield of 0.48%. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Hedge Funds Weigh In On Texas Pacific Land

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 worth $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. State Street Corp raised its holdings in Texas Pacific Land by 3.8% in the third quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after purchasing an additional 27,884 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Texas Pacific Land by 34.5% in the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider’s stock worth $693,023,000 after acquiring an additional 159,597 shares during the last quarter. Invesco Ltd. grew its stake in shares of Texas Pacific Land by 203.4% in the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider’s stock worth $331,321,000 after acquiring an additional 200,841 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Texas Pacific Land by 21.8% in the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider’s stock worth $248,584,000 after acquiring an additional 40,185 shares during the last quarter. 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.