Texas Pacific Land (NYSE:TPL) Stock Price Down 3.4% – Should You Sell?

Texas Pacific Land Co. (NYSE:TPL)’s share price traded down 3.4% on Monday . The stock traded as low as $1,082.90 and last traded at $1,081.13. 60,097 shares were traded during mid-day trading, a decline of 62% from the average session 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 has a 50-day moving average price of $1,260.93 and a two-hundred day moving average price of $1,290.22.

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

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Monday, June 2nd. Texas Pacific Land’s dividend payout ratio is currently 32.02%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TPL. Hemington Wealth Management raised its holdings in shares of Texas Pacific Land by 66.7% in the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 8 shares during the period. Bessemer Group Inc. raised its holdings in Texas Pacific Land by 108.3% in the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider’s stock valued at $28,000 after buying an additional 13 shares during the period. Golden State Wealth Management LLC lifted its position in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider’s stock valued at $28,000 after buying an additional 11 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Texas Pacific Land during the first quarter valued at approximately $28,000. Finally, Assetmark Inc. purchased a new stake in Texas Pacific Land during the fourth quarter worth approximately $29,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

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.