Chris Steddum Sells 214 Shares of Texas Pacific Land Co. (NYSE:TPL) Stock

Texas Pacific Land Co. (NYSE:TPLGet Free Report) CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total value of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Texas Pacific Land Trading Up 1.1 %

Shares of TPL stock opened at $1,335.99 on Tuesday. The firm has a 50-day moving average price of $1,345.70 and a 200 day moving average price of $1,212.14. Texas Pacific Land Co. has a twelve month low of $553.33 and a twelve month high of $1,769.14. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 67.75 and a beta of 1.69.

Texas Pacific Land (NYSE:TPLGet Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

Institutional Trading of Texas Pacific Land

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Texas Pacific Land by 2.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,172 shares of the financial services provider’s stock worth $13,462,000 after purchasing an additional 301 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $6,920,000. PKO Investment Management Joint Stock Co acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $697,000. Siemens Fonds Invest GmbH acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $1,924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Texas Pacific Land during the 4th quarter valued at approximately $5,720,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Texas Pacific Land (NYSE:TPL)

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