Texas Pacific Land (NYSE:TPL) Hits New 1-Year High – What’s Next?

Texas Pacific Land Co. (NYSE:TPL) reached a new 52-week high on Monday . The stock traded as high as $1,769.14 and last traded at $1,754.95, with a volume of 76452 shares trading hands. The stock had previously closed at $1,730.00.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Price Performance

The stock’s 50 day simple moving average is $1,120.26 and its two-hundred day simple moving average is $881.05. The firm has a market cap of $37.08 billion, a P/E ratio of 82.57 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.40%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s payout ratio is 32.84%.

Insider Buying and Selling at Texas Pacific Land

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction dated 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 directly owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 114 shares of company stock worth $120,929. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPL. Capital Performance Advisors LLP bought a new stake in Texas Pacific Land during the third quarter valued at approximately $25,000. American National Bank purchased a new position in shares of Texas Pacific Land during the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Texas Pacific Land during the 2nd quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA purchased a new stake in Texas Pacific Land in the 3rd quarter worth approximately $44,000. Finally, Quest Partners LLC bought a new stake in Texas Pacific Land during the 3rd quarter worth 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.