Texas Pacific Land (NYSE:TPL) Stock Price Down 5.6% – Should You Sell?

Texas Pacific Land Co. (NYSE:TPL) shares dropped 5.6% during trading on Monday . The company traded as low as $1,508.40 and last traded at $1,508.40. Approximately 72,753 shares changed hands during trading, a decline of 43% from the average daily volume of 128,054 shares. The stock had previously closed at $1,598.49.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Stock Performance

The company has a 50 day moving average of $1,192.55 and a two-hundred day moving average of $916.29. The stock has a market cap of $34.16 billion, a PE ratio of 77.34 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.43%. 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 payout ratio is currently 24.01%.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction 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. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders bought 117 shares of company stock worth $130,685. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after purchasing an additional 27,884 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock worth $411,943,000 after purchasing an additional 81,974 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Texas Pacific Land by 74.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $131,014,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Texas Pacific Land by 1.5% during the 3rd 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 during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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.