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

Texas Pacific Land Co. (NYSE:TPL) CFO Chris Steddum sold 214 shares of the firm’s 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 owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Texas Pacific Land Trading Up 0.2 %

NYSE:TPL opened at $1,342.44 on Wednesday. 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 50-day moving average of $1,347.30 and a 200-day moving average of $1,215.48. The firm 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 data 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 company had revenue of $185.78 million during the quarter.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TPL. KBC Group NV boosted its holdings in shares of Texas Pacific Land by 41.4% in the third quarter. KBC Group NV now owns 1,455 shares of the financial services provider’s stock worth $1,288,000 after buying an additional 426 shares during the period. Metis Global Partners LLC acquired a new position in shares of Texas Pacific Land in the third quarter worth about $219,000. CIBC Asset Management Inc boosted its holdings in shares of Texas Pacific Land by 5.4% in the third quarter. CIBC Asset Management Inc now owns 797 shares of the financial services provider’s stock worth $705,000 after buying an additional 41 shares during the period. RiverPark Advisors LLC lifted its position in shares of Texas Pacific Land by 6.8% in the third quarter. RiverPark Advisors LLC now owns 787 shares of the financial services provider’s stock worth $696,000 after purchasing an additional 50 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its position in shares of Texas Pacific Land by 114.6% in the third quarter. Gilbert & Cook Inc. now owns 3,966 shares of the financial services provider’s stock worth $3,509,000 after purchasing an additional 2,118 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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.