Stephanie Buffington Sells 210 Shares of Texas Pacific Land Co. (NYSE:TPL) Stock

Texas Pacific Land Co. (NYSE:TPL) CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Texas Pacific Land Stock Down 2.9 %

TPL traded down $40.34 during trading on Wednesday, hitting $1,366.42. The company’s stock had a trading volume of 91,698 shares, compared to its average volume of 103,809. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,421.22. The stock’s fifty day moving average price is $1,015.54 and its 200-day moving average price is $831.46. The firm has a market capitalization of $31.40 billion, a P/E ratio of 70.41 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.47%. Texas Pacific Land’s payout ratio is currently 24.01%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Texas Pacific Land

Several hedge funds and other institutional investors have recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in Texas Pacific Land by 204.2% during the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $584,000 after buying an additional 678 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after buying an additional 10,483 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Texas Pacific Land by 174.6% during the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after buying an additional 7,476 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Texas Pacific Land by 56.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock worth $10,645,000 after buying an additional 5,255 shares in the last quarter. Finally, Marietta Wealth Management LLC bought a new stake in Texas Pacific Land during the second quarter worth $2,926,000. Institutional investors own 59.94% of the company’s stock.

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.