Chris Steddum, serving as Chief Financial Officer for Texas Pacific Land Corp (NASDAQ:TPL), has finalized the disposition of common stock amounting to $1,601,063. These transactions were executed on June 5 and June 8, 2026, with share prices varying between $400.00 and $401.34. The sales were facilitated through a Rule 10b5-1 trading plan that Mr. Steddum originally adopted on March 5, 2026.
On June 5, 2026, Mr. Steddum disposed of 3,170 shares at a weighted average price of $400.25 per share. These shares were sold through multiple transactions, with prices ranging from $400.00 to $400.98. Further activity occurred on June 8, 2026, when Mr. Steddum sold 730 shares at a weighted average price of $400.21 per share, with individual transaction prices ranging from $400.00 to $400.77. On the same day, an additional 100 shares were sold at a weighted average price of $401.18 per share, with prices for these transactions ranging from $401.05 to $401.34.
Following these transactions, Mr. Steddum directly holds 12,040 shares of Texas Pacific Land Corp common stock. The stock has since declined to $381.90, down from the CFO's sale prices of around $400 per share. According to InvestingPro analysis, TPL appears overvalued at current levels based on its Fair Value assessment, placing it among companies on the Most Overvalued list. The company maintains a market capitalization of $26.44 billion and trades at a P/E ratio of 52.72. Despite valuation concerns, TPL has maintained dividend payments for 13 consecutive years, according to InvestingPro Tips.
In addition to his common stock holdings, Mr. Steddum holds various Restricted Stock Units (RSUs) in Texas Pacific Land Corp. These include 2,079 RSUs that are scheduled to vest on February 13, 2027. Another 1,590 RSUs are held, with 795 of these vesting on February 15, 2027, and the remaining 795 vesting on February 15, 2028. Furthermore, Mr. Steddum holds 2,753 RSUs, of which 917 will vest on February 15, 2027, and 918 will vest on February 15 of both 2028 and 2029. Each RSU has a value equivalent to one share of common stock.
In other recent news, Texas Pacific Land Corp reported strong financial results for the first quarter of 2026, surpassing both earnings and revenue forecasts. The company achieved an earnings per share (EPS) of $2.07, exceeding analysts' expectations of $1.95. Additionally, Texas Pacific Land Corp reported a revenue of $236.8 million, slightly above the forecasted $235.5 million. Despite these impressive results, the company's stock saw a decline. In another development, KeyBanc has reiterated its Overweight rating for Texas Pacific Land Trust, maintaining a price target of $639.00. The firm based its decision on insights gathered during a company-hosted event in Midland, which included presentations on existing business segments. These recent developments highlight ongoing interest and analysis from investors and analysts alike.