Texas Pacific Land (NYSE:TPL) Shares Down 3.4% - Should You Sell?

Texas Pacific Land Co. (NYSE:TPL - Get Free Report) dropped 3.4% during mid-day trading on Monday . The stock traded as low as $1,082.90 and last traded at $1,081.13. Approximately 60,097 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 156,963 shares. The stock had previously closed at $1,119.58.

Texas Pacific Land Price Performance

The firm has a market cap of $25.09 billion, a PE ratio of 55.34 and a beta of 1.12. The business's 50 day moving average price is $1,260.93 and its 200 day moving average price is $1,290.22.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The firm had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million. 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 will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is 32.02%.

Institutional Trading of Texas Pacific Land

Several institutional investors have recently added to or reduced their stakes in TPL. JPMorgan Chase & Co. lifted its position in shares of Texas Pacific Land by 19.9% during the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock worth $44,979,000 after purchasing an additional 6,747 shares during the last quarter. Fisher Asset Management LLC acquired a new position in Texas Pacific Land in the 4th quarter valued at about $380,000. Toronto Dominion Bank raised its stake in shares of Texas Pacific Land by 173.6% during the fourth quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after purchasing an additional 4,038 shares during the last quarter. Spring Capital Management LLC acquired a new position in Texas Pacific Land in the 1st quarter valued at $5,008,000. Finally, ProShare Advisors LLC raised its holdings in Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares in the last quarter. Institutional investors and hedge funds 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.

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