Insider Selling: Texas Pacific Land Co. (NYSE:TPL) CAO Sells 210 Shares of Stock

Texas Pacific Land Co. (NYSE:TPL) CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $810,784.72. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Texas Pacific Land Trading Down 0.4 %

NYSE TPL opened at $1,361.20 on Friday. The stock has a market cap of $31.28 billion, a PE ratio of 69.84 and a beta of 1.56. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,421.22. The company’s 50-day moving average price is $1,038.16 and its 200-day moving average price is $838.85.

Texas Pacific Land Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This is an increase 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 (DPR) is currently 24.01%.

Institutional Trading of Texas Pacific Land

Several hedge funds have recently modified their holdings of the company. Erste Asset Management GmbH acquired a new stake in shares of Texas Pacific Land in the 3rd quarter worth $337,000. Encompass More Asset Management boosted its holdings in Texas Pacific Land by 310.3% in the third quarter. Encompass More Asset Management now owns 1,510 shares of the financial services provider’s stock worth $1,336,000 after acquiring an additional 1,142 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Texas Pacific Land during the third quarter valued at about $564,000. Captrust Financial Advisors boosted its stake in Texas Pacific Land by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 1,528 shares of the financial services provider’s stock worth $1,352,000 after purchasing an additional 44 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Texas Pacific Land during the 3rd quarter worth approximately $226,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a 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.