Texas Pacific Land (NYSE:TPL) Shares Down 6% – What’s Next?

Texas Pacific Land Co. (NYSE:TPL) shares were down 6% during mid-day trading on Wednesday . The company traded as low as $1,211.29 and last traded at $1,218.73. Approximately 111,643 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 130,698 shares. The stock had previously closed at $1,296.09.

Texas Pacific Land Price Performance

The business has a 50-day moving average of $1,270.33 and a 200-day moving average of $958.35. The company has a market capitalization of $27.55 billion, a P/E ratio of 61.47 and a beta of 1.62.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 a boost 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 0.53%. Texas Pacific Land’s payout ratio is currently 32.84%.

Insider Buying and Selling

In other Texas Pacific Land news, CAO Stephanie Buffington sold 210 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 584 shares of the company’s stock, valued at $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 117 shares of company stock valued at $139,646 in the last ninety days. 6.50% of the stock is owned by company insiders.

Institutional Trading of Texas Pacific Land

Several institutional investors and hedge funds have recently made changes to their positions in TPL. Capital Performance Advisors LLP purchased a new position in Texas Pacific Land in the 3rd quarter worth about $25,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $44,000. Quest Partners LLC bought a new stake in shares of Texas Pacific Land during the third quarter valued at approximately $50,000. American National Bank purchased a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $42,000. Finally, Signaturefd LLC grew 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 worth $80,000 after purchasing an additional 13 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

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.