Texas Pacific Land (NYSE:TPL) Shares Gap Up – What’s Next?

Shares of Texas Pacific Land Co. (NYSE:TPL) gapped up prior to trading on Friday . The stock had previously closed at $1,515.53, but opened at $1,608.99. Texas Pacific Land shares last traded at $1,608.00, with a volume of 101,154 shares trading hands.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Trading Up 14.2 %

The company’s 50-day moving average price is $1,120.26 and its two-hundred day moving average price is $878.83. The company has a market cap of $39.76 billion, a P/E ratio of 88.76 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. Stockholders of record on Monday, December 2nd will be issued a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 annualized dividend and a dividend yield of 0.37%. Texas Pacific Land’s payout ratio is 24.01%.

Insider Activity

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of 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 document filed with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 117 shares of company stock valued at $123,524. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Texas Pacific Land

A number of institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $25,000. American National Bank bought a new stake in shares of Texas Pacific Land in the 2nd quarter worth approximately $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Texas Pacific Land in the 2nd quarter worth approximately $44,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $44,000. Finally, Quest Partners LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter worth approximately $50,000. 59.94% of the stock is 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.