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 business’s stock in a transaction on Thursday, March 13th. The stock was 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 in the company, valued at approximately $1,771,227.36. This trade represents a 45.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $1,342.44 on Wednesday. Texas Pacific Land Co. has a 1-year low of $553.33 and a 1-year high of $1,769.14. The stock’s fifty day moving average price is $1,347.30 and its 200 day moving average price is $1,215.48. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 68.08 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 for the quarter. The business had revenue of $185.78 million for 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 declared 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. The ex-dividend date was Monday, March 3rd. This represents a $6.40 annualized dividend and a yield of 0.48%. Texas Pacific Land’s payout ratio is presently 32.45%.

Institutional Trading of Texas Pacific Land

Large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in 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 during the last quarter. Assetmark Inc. purchased a new stake in Texas Pacific Land during the 4th quarter valued at about $29,000. Atala Financial Inc purchased a new stake in Texas Pacific Land during the 4th quarter valued at about $31,000. Quest Partners LLC acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider’s stock valued at $53,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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.