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

Texas Pacific Land Co. (NYSE:TPL) shares traded down 5.3% on Friday . The stock traded as low as $1,323.48 and last traded at $1,298.75. 41,630 shares traded 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 Down 8.4 %

The firm has a market cap of $28.86 billion, a PE ratio of 63.85 and a beta of 1.69. The company’s 50 day moving average price is $1,351.26 and its two-hundred day moving average price is $1,217.74.

Texas Pacific Land (NYSE:TPL) last posted its quarterly 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 for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

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

Insider Buying and Selling

In other Texas Pacific Land news, CFO Chris Steddum sold 214 shares of the 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 directly owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the 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 transaction, the vice president now owns 1,393 shares in the company, 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. Insiders have purchased 57 shares of company stock valued at $75,675 in the last 90 days. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Texas Pacific Land

A number of institutional investors have recently modified their holdings of the company. Caprock Group LLC boosted its holdings in shares of Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider’s stock valued at $302,000 after buying an additional 8 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Texas Pacific Land by 2.8% in the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider’s stock valued at $368,000 after buying an additional 9 shares in the last quarter. Signaturefd LLC boosted its stake in Texas Pacific Land by 11.1% in the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 10 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 13 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

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.