Texas Pacific Land (NYSE:TPL) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Texas Pacific Land Co. (NYSE:TPL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1,005.65 and traded as high as $1,138.33. Texas Pacific Land shares last traded at $1,105.96, with a volume of 129,417 shares traded.

Texas Pacific Land Price Performance

The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 60.55 and a beta of 1.62. The business’s 50-day moving average price is $1,301.34 and its two-hundred day moving average price is $1,008.83.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a yield of 0.54%. Texas Pacific Land’s payout ratio is currently 32.84%.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of the business’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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 99 shares of company stock worth $124,992. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Texas Pacific Land

Several large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Texas Pacific Land in the 3rd quarter valued at $25,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth $44,000. Quest Partners LLC bought a new stake in shares of Texas Pacific Land during the 3rd quarter worth $50,000. Signaturefd LLC boosted its stake in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Texas Pacific Land by 880.0% in the third quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds 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.