Insider Selling: Texas Pacific Land Co. (NYSE:TPL) VP Sells $185,177.00 in Stock

Texas Pacific Land Co. (NYSE:TPL) VP Micheal W. Dobbs sold 100 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $1,851.77, for a total value of $185,177.00. Following the transaction, the vice president now directly owns 268 shares in the company, valued at $496,274.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Texas Pacific Land Trading Up 0.7 %

NYSE TPL opened at $1,849.49 on Monday. The firm has a market capitalization of $14.20 billion, a P/E ratio of 34.22 and a beta of 1.77. The business has a fifty day simple moving average of $1,656.09 and a 200 day simple moving average of $1,570.63. Texas Pacific Land Co. has a 12 month low of $1,266.21 and a 12 month high of $2,739.00.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $13.05 EPS for the quarter, beating analysts’ consensus estimates of $11.11 by $1.94. The business had revenue of $160.61 million during the quarter, compared to analyst estimates of $143.24 million. Texas Pacific Land had a return on equity of 51.89% and a net margin of 64.00%. As a group, sell-side analysts predict that Texas Pacific Land Co. will post 49.83 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $3.25 dividend. The ex-dividend date is Thursday, August 31st. This represents a $13.00 dividend on an annualized basis and a yield of 0.70%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.05%.

Analyst Ratings Changes

TPL has been the topic of a number of research reports. StockNews.com initiated coverage on Texas Pacific Land in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Stifel Nicolaus increased their price target on Texas Pacific Land from $1,371.00 to $1,622.00 in a research report on Friday, August 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in Texas Pacific Land by 7.1% in the 2nd quarter. California State Teachers Retirement System now owns 12,582 shares of the financial services provider’s stock valued at $16,564,000 after purchasing an additional 836 shares during the period. Invesco LLC bought a new position in shares of Texas Pacific Land during the 2nd quarter worth $309,000. Formidable Asset Management LLC grew its stake in shares of Texas Pacific Land by 35.5% during the 2nd quarter. Formidable Asset Management LLC now owns 595 shares of the financial services provider’s stock worth $783,000 after acquiring an additional 156 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Texas Pacific Land during the 2nd quarter worth $928,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of Texas Pacific Land by 46.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 3,075 shares of the financial services provider’s stock worth $4,048,000 after acquiring an additional 973 shares during the period. Institutional investors own 60.40% 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's Land and Resource Management segment manages surface acres of land. This segment also holds own 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 located in the western part of Texas.