Texas Pacific Land Co. (NYSE:TPL) CAO Sells $291,549.30 in Stock

Texas Pacific Land Co. (NYSE:TPL) CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Texas Pacific Land Price Performance

TPL opened at $1,359.94 on Friday. Texas Pacific Land Co. has a one year low of $467.62 and a one year high of $1,421.22. The company’s 50 day simple moving average is $1,049.39 and its 200-day simple moving average is $844.11. The stock has a market capitalization of $31.25 billion, a P/E ratio of 69.78 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio is currently 24.01%.

Hedge Funds Weigh In On Texas Pacific Land

Several large investors have recently bought and sold shares of TPL. Avantax Advisory Services Inc. raised its holdings in shares of Texas Pacific Land by 204.2% during the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 678 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after acquiring an additional 10,483 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Texas Pacific Land by 174.6% during the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after acquiring an additional 7,476 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Texas Pacific Land by 56.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock worth $10,645,000 after acquiring an additional 5,255 shares during the period. Finally, Marietta Wealth Management LLC acquired a new stake in shares of Texas Pacific Land during the second quarter worth $2,926,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th.

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.