Texas Pacific Land (NYSE:TPL) Trading Down 4.6% - What's Next?

Texas Pacific Land Co. (NYSE:TPL - Get Free Report)'s share price traded down 4.6% during trading on Friday . The company traded as low as $1,147.00 and last traded at $1,143.36. 46,767 shares were traded during trading, a decline of 70% from the average session volume of 158,143 shares. The stock had previously closed at $1,198.33.

Texas Pacific Land Stock Down 6.9%

The company has a market capitalization of $25.65 billion, a P/E ratio of 56.59 and a beta of 1.20. The business has a 50 day moving average of $1,292.19 and a 200 day moving average of $1,320.00.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). The business had revenue of $195.98 million during the quarter, compared to analysts' expectations of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

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 issued a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.57%. Texas Pacific Land's dividend payout ratio is presently 32.02%.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land 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 completion of the sale, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction dated Friday, March 14th. The shares were 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 owns 3,502 shares of the company's stock, valued at $4,601,592.98. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders acquired 165 shares of company stock valued at $217,572 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Pacific Land

Several institutional investors and hedge funds have recently modified their holdings of TPL. GAMMA Investing LLC increased its stake in shares of Texas Pacific Land by 241,048.0% in the 1st quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock valued at $479,278,000 after purchasing an additional 361,572 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after purchasing an additional 260,278 shares in the last quarter. Invesco Ltd. increased its stake in shares of Texas Pacific Land by 203.4% in the 4th quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock valued at $331,321,000 after purchasing an additional 200,841 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Texas Pacific Land by 34.5% in the 4th quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock valued at $693,023,000 after purchasing an additional 159,597 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Texas Pacific Land by 943.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,055 shares of the financial services provider's stock valued at $133,883,000 after purchasing an additional 109,455 shares in the last quarter. Hedge funds and other institutional investors 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.