Texas Pacific Land (NYSE:TPL) Sets New 52-Week High – What’s Next?

Texas Pacific Land Co. (NYSE:TPL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $1,421.22 and last traded at $1,421.22, with a volume of 5200 shares. The stock had previously closed at $1,399.88.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Monday, August 12th.

Texas Pacific Land Stock Performance

The stock has a fifty day moving average of $1,026.79 and a 200-day moving average of $835.20. The company has a market cap of $31.40 billion, a PE ratio of 70.11 and a beta of 1.56.

Texas Pacific Land Increases Dividend

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

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, 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 value of $291,549.30. Following the transaction, the chief accounting officer now directly owns 584 shares in the company, valued at $810,784.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 108 shares of company stock worth $105,726 in the last 90 days. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Texas Pacific Land

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