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 on Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Texas Pacific Land Price Performance

Shares of NYSE TPL traded down $40.34 during trading on Wednesday, reaching $1,366.42. 91,698 shares of the stock traded hands, compared to its average volume of 103,809. Texas Pacific Land Co. has a 52-week low of $467.62 and a 52-week high of $1,421.22. The company has a 50-day moving average of $1,015.54 and a 200-day moving average of $831.46. The stock has a market capitalization of $31.40 billion, a P/E ratio of 70.41 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is currently 24.01%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TPL. Capital Performance Advisors LLP purchased a new stake in Texas Pacific Land during the 3rd quarter worth about $25,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land during the 3rd quarter worth about $44,000. Quest Partners LLC purchased a new stake in Texas Pacific Land during the 3rd quarter worth about $50,000. American National Bank purchased a new stake in shares of Texas Pacific Land in the 2nd quarter valued at about $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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.