Insider Buying: Texas Pacific Land Co. (NYSE:TPL) Director Acquires 9 Shares of Stock

Texas Pacific Land Co. (NYSE:TPL) Director Murray Stahl acquired 9 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $1,402.75 per share, for a total transaction of $12,624.75. Following the completion of the transaction, the director now directly owns 644,798 shares in the company, valued at approximately $904,490,394.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Murray Stahl also recently made the following trade(s):

• On Monday, November 11th, Murray Stahl purchased 3 shares of Texas Pacific Land stock. The shares were purchased at an average price of $1,379.23 per share, with a total value of $4,137.69.
• On Friday, November 8th, Murray Stahl bought 3 shares of Texas Pacific Land stock. The shares were acquired at an average cost of $1,338.32 per share, for a total transaction of $4,014.96.
• On Wednesday, November 6th, Murray Stahl bought 3 shares of Texas Pacific Land stock. The stock was bought at an average price of $1,319.93 per share, for a total transaction of $3,959.79.
• On Monday, November 4th, Murray Stahl purchased 3 shares of Texas Pacific Land stock. The stock was acquired at an average price of $1,173.00 per share, for a total transaction of $3,519.00.
• On Friday, November 1st, Murray Stahl bought 3 shares of Texas Pacific Land stock. The shares were acquired at an average cost of $1,174.00 per share, for a total transaction of $3,522.00.
• On Wednesday, October 30th, Murray Stahl acquired 3 shares of Texas Pacific Land stock. The shares were bought at an average price of $1,116.91 per share, for a total transaction of $3,350.73.
• On Monday, October 28th, Murray Stahl bought 3 shares of Texas Pacific Land stock. The shares were acquired at an average cost of $1,075.78 per share, with a total value of $3,227.34.
• On Friday, October 25th, Murray Stahl acquired 3 shares of Texas Pacific Land stock. The shares were bought at an average cost of $1,099.70 per share, with a total value of $3,299.10.
• On Wednesday, October 23rd, Murray Stahl bought 3 shares of Texas Pacific Land stock. The shares were purchased at an average cost of $1,085.56 per share, for a total transaction of $3,256.68.
• On Monday, October 21st, Murray Stahl purchased 3 shares of Texas Pacific Land stock. The shares were acquired at an average cost of $1,069.75 per share, for a total transaction of $3,209.25.

Texas Pacific Land Trading Down 2.2 %

NYSE TPL traded down $30.62 on Thursday, reaching $1,335.80. The company’s stock had a trading volume of 26,894 shares, compared to its average volume of 103,461. The firm has a market cap of $30.70 billion, a PE ratio of 68.85 and a beta of 1.56. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,421.22. The business has a 50-day moving average price of $1,026.79 and a 200 day moving average price of $835.20.

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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio is 24.01%.

Institutional Investors Weigh In On Texas Pacific Land

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Texas Pacific Land by 199.8% in the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after purchasing an additional 1,267,123 shares during the period. Bank of New York Mellon Corp lifted its stake in Texas Pacific Land by 74.2% in the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock valued at $149,920,000 after buying an additional 86,975 shares during the period. Magnolia Capital Advisors LLC bought a new position in Texas Pacific Land during the 2nd quarter worth approximately $131,014,000. Charles Schwab Investment Management Inc. boosted its position in shares of Texas Pacific Land by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock worth $120,694,000 after purchasing an additional 1,984 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after buying an additional 9,878 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research report 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.