Texas Pacific Land Co. (TPL) to Issue Quarterly Dividend of $1.60 on December 16th

Texas Pacific Land Co. (NYSE:TPL) declared a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Investors of record on Monday, December 2nd will be paid a dividend of 1.60 per share by the financial services provider on Monday, December 16th. This represents a $6.40 dividend on an annualized basis and a yield of 0.40%. 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 has raised its dividend payment by an average of 9.1% per year over the last three years. Texas Pacific Land has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings.

Texas Pacific Land Stock Performance

Shares of TPL stock opened at $1,600.09 on Friday. Texas Pacific Land has a 1 year low of $467.62 and a 1 year high of $1,769.14. The stock has a fifty day moving average of $1,179.26 and a two-hundred day moving average of $905.05. The firm has a market capitalization of $36.76 billion, a PE ratio of 82.10 and a beta of 1.56.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now owns 584 shares in the company, valued at $810,784.72. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders acquired 114 shares of company stock worth $125,642. 6.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Texas Pacific Land Company Profile

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.