Texas Pacific Land (NYSE:TPL) Shares Cross Above 200 Day Moving Average – What’s Next?

Texas Pacific Land Co. (NYSE:TPL)’s stock price passed 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 trading hands.

Texas Pacific Land Price Performance

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

Texas Pacific Land Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.54%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is currently 32.84%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the firm’s stock in a transaction on 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 owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 99 shares of company stock valued at $124,992 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Texas Pacific Land

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 13 shares during the period. Glenmede Trust Co. NA raised its position in shares of Texas Pacific Land by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 13 shares during the last quarter. First Financial Bankshares Inc lifted its stake in shares of Texas Pacific Land by 2.2% in the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 16 shares during the period. BOKF NA boosted its holdings in Texas Pacific Land by 1.1% in the second quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock valued at $1,154,000 after acquiring an additional 17 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Texas Pacific Land by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 21 shares during the period. 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.