Texas Pacific Land (NYSE:TPL) Shares Down 5.3% – Time to Sell?

Shares of Texas Pacific Land Co. (NYSE:TPL) 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 changed hands during mid-day 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 Stock Performance

The business’s 50 day moving average is $1,351.26 and its 200 day moving average is $1,217.74. The company has a market capitalization of $28.86 billion, a price-to-earnings ratio of 63.85 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last released its earnings results 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 net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is presently 32.45%.

Insiders Place Their Bets

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a 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 that occurred on 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 transaction, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. This represents a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 57 shares of company stock valued at $75,675. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Texas Pacific Land

Several institutional investors have recently made changes to their positions in TPL. Bessemer Group Inc. increased its holdings in shares of Texas Pacific Land by 108.3% during the 4th 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. purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $29,000. Atala Financial Inc purchased a new position in shares of Texas Pacific Land during the 4th quarter valued at approximately $31,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $50,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. 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.